Pan Card – These PAN card holders will have to pay fine of up to 10 thousand rupees

Pan Card Update: In the present times, the PAN card has become an essential document. From opening a bank account to filing ITR and buying property, a PAN card is required. Even if you do a big transaction, a PAN card is very important. If there is any mistake in the PAN card, or if you are using it even if it is wrong, then it can have a direct impact on your pocket.

The Income Tax Department is now also keeping an eye on fake PAN card holders. If, for some reason, you have two PAN cards, then surrender one. If a person is found to have two PAN cards, they may have to face difficulties. Some important things will have to be kept in mind. Know in detail below.

Penalty will be imposed on two PAN cards.

According to the rules of the Income Tax Department, one person has been given the right to one PAN card. Many people commit fraud by having two PAN cards. The Income Tax Department has made it clear that if someone is found to have two PAN cards or has used them, then strict action will be taken. A fine of up to Rs 10,000 can be imposed on such people. This mistake can land you in trouble.

Why will the penalty be imposed?

Using two PAN cards is considered a serious matter. You must be wondering what the problem is in this. The government considers it a serious crime. The reason for this is that your entire financial history is linked to the PAN card number. In such a situation, if you have two PANs, the government will not be able to know your correct income and tax.

If you have two PAN cards or have written the wrong PAN number while filling the form, the Income Tax Department can catch it immediately. A fine of up to Rs 10,000 can also be imposed on you for this mistake. Making two PAN cards is a blatant violation of the law.

This will be considered misuse.

Taxpayers should keep some things in mind while filing ITR. Even if you write the wrong PAN number in any bank form while filing ITR, a fine can be imposed. Giving your PAN to someone else or using it is considered misuse. If you do this, you yourself will be held responsible.