More than 11 Lakh permanent account numbers(PANs) were deleted or deactivated by the government in cases where multiple PANS were found allotted to one person.
PAN is the key identifier of taxable entity and aggregator of all financial transactions undertaken by person.
A person cannot hold more than one PAN. A penalty of Rs. 10,000 is liable to be imposed under section 272B of the income tax Act, 1961 for having more than one PAN.
Reports said that the government also detected fake PAN cards which were allotted to non-existing individuals or to people who have submitted false information about themselves.
How to check if your PAN is still active