The card is an important document for financial transactions. PAN card is required for banking and other functions. Without this you cannot do any financial work. This card contains a unique alphanumeric number of 10 digits, which is issued by the Income Tax Department. However, there are still many people who have more than one PAN card. Even if this happens because your first PAN card is lost or damaged, what should be done in such a situation?
Although it is very important for everyone in India to have a PAN card, but there are still some people who do not have a PAN card. However, PAN card has been made mandatory for banking or other financial purposes. Especially those whose annual income is Rs. 2.5 lakhs and they file ITR, they should have a PAN card. It is considered an essential document for filing income tax returns. The Income Tax Department also monitors the financial situation of the people through this card.
Can PAN card, which is used as financial transactions and identity proof, can be kept more than once? There is no answer. Actually, according to the law, a person should have only one PAN card. Keeping more than one PAN card is considered illegal. Legal action can be taken by the Income Tax Department against such individuals or institutions. In such a situation you may face jail or heavy fine.
If your PAN card is lost or damaged then you can contact the Income Tax Department. If you know your unique number then you can download the PAN card from the portal. At the same time, if you lose PAN card, first complain to the police station, after that you can apply for PAN card.