PAN issues

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149 Points Posted on 17 January 2020
An individual holds two PAN. One is used for his salary income and other one for bank FD.
Is there any problem the individual has to face in future ???
If so, how to get rid of this ??
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On 17 January 2020 at 21:29 Report
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Quick Summary
This discussion addresses the issue of an individual holding two Permanent Account Numbers (PANs), one for salary income and another for bank Fixed Deposits. It highlights that possessing multiple PANs is illegal and can result in a £10,000 penalty. The advice given is to urgently surrender one of the PANs to the Income Tax department, as only one PAN can be linked to an Aadhaar card. Failure to do so may lead to one PAN becoming automatically inactive by March.

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1392 Points Posted on 17 January 2020
Sure one person one pan there is penalty of rs 10000/- i will suggest to surrende one of them urgently or by march one will be automitacally inactive
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On 17 January 2020 at 21:52
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2 Points Posted on 17 January 2020
Yes, one pan must be surrendered to Income Tax department. Only one pan number can be linked with aadhar.
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On 17 January 2020 at 23:06

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