Providing an incorrect PAN number while filing income tax returns or conducting financial transactions can lead to penalties . The Income Tax Department may impose a fine of up to ₹10,000 for... Not linking Aadhaar with PAN can lead to penalties , including unusable PAN cards, higher tax deductions, and fines for late linking or possessing multiple PAN cards. What happens if PAN card is not linked to Aadhaar card, read on to understand the implications of not linking PAN with Aadhaar card and penalty details. It is crucial to avoid having duplicate PAN cards, as it is illegal and can lead to serious consequences. Holding multiple PAN cards with the intention to deceive the government or evade taxes can result in fines of up to Rs 10,000, as per section 272B of the Income Tax Act.
