TWO PANS HAVING MANY ACCOUNTS

An individual holds two Permanent Account Numbers (PANs), with bank accounts linked to each. One PAN was used for a tax audit, but a bank account linked to the second PAN was omitted from the balance sheet, despite having cash deposits and transactions. The advice given is that holding two PANs is a criminal offence and one must be surrendered immediately, while also preparing to face the consequences of this action.