PAN card, i.e. Permanent Account Number, has become an important part of everyone’s life these days. It is needed everywhere, from opening a bank account to taking advantage of government schemes. It is proof of our financial identity. This 10-digit unique number connects us to the Income Tax Department.
But, do you know that some mistakes related to PAN card can cost you heavily? Yes, the Income Tax Department has warned that a fine of up to Rs 10,000 can be imposed on certain mistakes!
What mistakes will attract a fine?
Wrong information: If you have given your name, address or any other information wrongly in the PAN card, then you may have to pay a fine. Therefore, while making a PAN card, fill all the information correctly.
More than one PAN card: If you have more than one PAN card, then it is illegal. The Income Tax Department imposes a fine of Rs 10,000 on such people.
Not linked to Aadhaar: If you have not yet linked your PAN card to Aadhaar, you may have to pay a fine. Therefore, link your PAN to Aadhaar as soon as possible.
What to do?
Check your information: Check all the information given in your PAN card carefully. If there is any mistake, get it corrected immediately.
Keep only one PAN card: If you have more than one PAN card, surrender one card.
Link it to Aadhaar: Make sure to link your PAN card to Aadhaar.
PAN card is important, but information is equally important!
PAN card is an important part of our life. But, it is also important to avoid mistakes related to it. Therefore, keep all the information related to PAN card correct and follow the rules.
