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TWO PANS HAVING MANY ACCOUNTS

RAKESH SHARMA (EMPLOYEE) (21 Points)

27 February 2021  

AN ASSESSE HAS TWO PAN NO. 1st ONE HAS OPENED 2 BANK ACCOUNT, AND 2nd ONE HAS 2 BANK ACCOUNT.  TAX AUDIT WAS DONE WITHS 1sT PAN NO. HAS 2 BANK AND 2nd PAN HAS ONLY ONE BANK SHOWN IN B/S. 2nd BANK A/C WITH 2nd PAN WAS NOT SHOWN IN B/S. AND THE 2nd BANK HAVE CASH DEPOSITE AND TRANSACTION FOR THAT NOTICE HAVE BEEN GIVEN FROM IT. 

SO WHAT IS THE SOLUTION OF THIS PROBLEM.


 2 Replies

Kapadia Pravin (17209 Points)
Replied 27 February 2021

First of you can not hold two PANs. One you surrender immediately.

SUSHANT BIDAYE (503 Points)
Replied 28 February 2021

Holding 2 pans is crime.

surrender immediately and face consequences for playing up with 2 PANs

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