Currently, almost everyone in the country uses a PAN card. Now it has become necessary to keep it with the ordinary citizen. In such a situation, there is a need for a PAN card in many places, including the bank. But you also have to be very careful when using the PAN card.
This is because if you mistakenly give any information related to PAN, you will have to pay a fine of up to Rs 10000. The ten-digit PAN number should be filled in very carefully. If there is any typo in this you may be subject to severe punishment.
Besides, if you use two PAN cards, you will have to pay a higher penalty. So it is important to always be aware of the PAN card. Otherwise, the Income Tax Department may cancel your PAN card with a large penalty. If you do not have a PAN card, you can disable your bank account.
If you have two PAN cards, hand them over to the Income Tax Department immediately. Under Section 272B of the Income Tax Act, 1961, a fine of up to Rs 10,000 may be imposed by the Income Tax Department.
This rule applies when filling out the IDR form or entering the PAN card details.
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