Income Tax Guidelines: Income Tax Department issued guidelines regarding PAN card..

PAN Card Holder Alert: PAN card is an important document, which is used by almost everyone. It is necessary for opening bank accounts, filing income tax and taking advantage of government schemes. PAN card is considered a fundamental document for financial identity. It has a special combination of 10 letters and digits, which makes it a unique alphanumeric number.

It is easy to obtain any financial information from the Income Tax Department with a PAN card. The Income Tax Department has issued an alert for PAN card users, which states that PAN card holders can be fined up to Rs 10,000, let's know in this news below-

Penalty on these PAN card holders!

The Income Tax Department has warned against the misuse of PAN card. Penalty can be imposed for giving wrong name, address or information and improper use. If the PAN card is not linked to Aadhaar, then also penalty may have to be faced. Therefore, it is necessary to provide correct and accurate information. Legal problems can be avoided by following the rules. Ensuring the correct use of PAN card is important for everyone.

More than one PAN card-

Having more than one PAN card is a legal offense for a person and the punishment for this includes paying a fine. Under section 272B, the Income Tax Department imposes a fine of up to Rs 10,000 on those PAN card holders who have more than one PAN card. Often two PAN cards are made even when you have already applied for a PAN card but you have applied again before not getting the update. In such a situation, you can contact the Income Tax and close a PAN card.

Providing incorrect information-

Entering the wrong name, address, or date of birth in the PAN card can cause problems. If the information is mistakenly wrong, it can be updated with the correct document. Otherwise, the Income Tax Department can impose a fine. It is also necessary to change the surname after marriage, otherwise you may have to pay a fine.

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