If you also have a PAN card, then know these important rules, may be fined 10000

In view of the kind of crisis that has spread in the country, in view of this, no one leaves without work, the Finance Minister has given the facility to the public to make an e-PAN card.  You can make an e-pan right from home.  With this, you will not need any document for this.  This facility is absolutely free, but do you know that in the event of having two PAN cards, the government can also impose a fine of up to Rs 10,000 on you.  Let us tell you some important things related to similar pan-

 PAN will be equal to E-PAN-

 According to the Income Tax Department, the new e-PAN card will also be considered as valid as the old PAN card, but not everyone can use Aadhaar to create an e-PAN.  So in such a situation you have to take care of many things before making an e-PAN card.

 10 thousand fine on two PAN cards-

 Apart from this, people who already have PAN card can apply for e-PAN only.  If a new PAN card is made by applying and two PAN cards are caught with you, then a fine of Rs 10,000 can be imposed under Section 272B (1) of the Income Tax Act.

 It is necessary to have a valid Aadhaar card-

 Apart from this, you must have a valid Aadhaar for the application.  Information is sought by the Income Tax Department to get all the identity related details and complete the e-KYC.  During the application for e-PAN, there is no need to fill any form nor to submit the document.

 This should be like DOB-

 If you are applying for e-PAN, then keep in mind whether the date of birth is in the Aadhaar card data base as DD-MM-YY.  If you do not have this form then you cannot apply for it.  Some old Aadhaar cards only have a year of birth.  If this is the case with you, then you can update it from UIDAI's site.

 Must be over 18 years of age-

 Apart from this, for the convenience of application of e-PAN, it is necessary that the age of the applicant is more than 18 years.  Apart from this the facility is available only to individuals and companies, Hindu Undivided Families (HUF) and partnership companies etc.

 PAN card is necessary for these works. 

 If you do more than 2.5 lakh transactions in a year, then PAN will be required.  The PAN of a business institution whose turnover is more than 5 lakhs is required.  However, now it is started only after starting the business.  If you are buying a car, bike or any vehicle, then a PAN is required.  It is necessary to give PAN for selling immovable property of more than 10 lakhs.  Also, PAN is necessary for any goods and service worth more than 2 lakhs.  Apart from this, PAN card is required for many other things.