TWO PANS HAVING MANY ACCOUNTS

Tax queries 106 views 2 replies

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.

Replies (2)
First of you can not hold two PANs. One you surrender immediately.
Holding 2 pans is crime.

surrender immediately and face consequences for playing up with 2 PANs


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