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Penalty

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(Querist)
02 July 2015 if a person is having 2 pan card and what are the penalties for that person and under which section of it act??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
03 July 2015 A person cannot hold more than one PAN. A penalty of Rs. 10,000/- is liable to be imposed under section 272B of the Income-tax Act, 1961 for having more than one PAN.
If a person has been allotted more than one PAN then he should immediately surrender the additional PAN card(s).
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
03 July 2015 https://www.incometaxindia.gov.in/tutorials/1.permanent%20account%20number%20(pan).pdf

You may also check out above link in this regard.
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Anurag Kedia

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Anurag Kedia (Querist)
04 July 2015 THANKS FOR YOUR KIND REPLY
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