The PAN card is one of the most important financial documents today. It's required for opening a bank account, filing income tax returns (ITR), making investments, and many other financial transactions. But do you know how many PAN cards a person can have? Not knowing this rule could lead to future problems like fines and legal action.

A person can have only one PAN card.

According to Income Tax Department rules, an individual is allowed to have only one Permanent Account Number (PAN). Each PAN is a unique number issued to identify an individual or entity.

If a person has more than one PAN card by mistake or for any other reason, he should surrender the additional PAN card.

What can happen if you have more than one PAN card?

If someone knowingly uses more than one PAN card, it could be considered a violation of income tax rules. In such a case, the Income Tax Department may take necessary action. Therefore, if you have more than one PAN card, it is best to surrender the additional PAN cards in a timely manner by following the correct procedures.

What to do if a second PAN card is made by mistake?

Sometimes, an error or missing information during the application process can result in a second PAN card being issued. There's no need to panic in such a situation. You should complete the process of surrendering the additional PAN card to avoid any future problems.

How to surrender additional PAN Card?

You can surrender your additional PAN card through the relevant official channels. You need to provide the required details and identification information. After the application is completed, the department will verify it, and upon completion of the process, the additional PAN can be deactivated.

PC: India TV