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Saturday, June 29, 2024

Can a person obtain or use more than one PAN?


Illegal Possession of Multiple PAN Cards

Illegal Possession of Multiple PAN Cards

Obtaining or possessing more than one PAN card is against the law. The Income Tax Department strictly enforces regulations to ensure that individuals hold only one PAN card to avoid misuse and maintain accurate tax records.

Legal Implications

  • Single PAN Requirement: Every individual is required to have only one PAN card. Multiple PANs are considered illegal and can result in penalties.
  • Legal Consequences: Individuals found possessing more than one PAN card may face legal action and fines as prescribed under Section 272B of the Income Tax Act.

Action Steps

  • Verify PAN Status: Ensure you hold only one PAN card. You can verify your PAN details through official portals or by contacting the Income Tax Department.
  • Correct Duplicate PANs: If you find that you have been allotted multiple PANs, contact the Income Tax Department to surrender the additional PAN cards and rectify the issue.

For further assistance or to resolve any issues related to multiple PAN cards, please reach out to the Income Tax Department or visit their official website for more information.

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