PAN Card Rules: PAN cards are issued under the Income Tax Act of India. Recently PAN 2.0 has been launched. If you get two PAN cards, then it is necessary to submit one. There will be no punishment.

Many documents are required for the people living in India. People need these documents every day for some work or the other.

These documents include documents like a driving license, passport, voter card, Aadhaar card, and PAN card. A PAN card is a very important document among these. Without it, all your banking and income tax return-related work gets stuck.

Recently PAN 2.0 has been launched by the Government of India. Under this, new PAN cards will now be issued to all the people. However, those who already have a PAN card will not apply for it. The government will send them new PAN cards by itself.

No separate fee will be charged for this. PAN 2.0 will be better than the old PAN card in terms of security and features. It will have a QR code. Which will have complete information of the user.

If someone gets PAN 2.0. Then it is necessary to surrender the old PAN card. If someone already has a PAN card. And he applies for a new PAN card and gets another PAN card.

Then people doing this can get into a lot of trouble. Because under the rules of the Income Tax Department, any citizen can have only one PAN card. If someone has two PANs, then it is necessary to withdraw one.

If someone does not do this, then action can be taken against him under the rules of the Income Tax Department. Those holding double PAN cards can be fined up to Rs 10,000 by the Income Tax Department under Section 272B of the Income Tax Act.

Disclaimer: This content has been sourced and edited from abplive.com. While we have made modifications for clarity and presentation.