PAN-SERIES 5 ( Holder of Multiple PAN)

1.      Can a Person hold more than one PAN?

·        No, a person cannot hold more than one PAN or in other words a person can have only one PAN, if a PAN has already been allotted, it is illegal to apply and possess another PAN. If you have more than one PAN you are required to intimate the concerned A.O.

2.      Is there any Penalty on holding more than one PAN?

·        Yes, If a PAN holder knowingly hold more than one PAN there are penalty of Rs. 10,000/-