Worth mentioning here is that under section 139A of Income-Tax Act, one person can have only one PAN card. It is illegal to possess more than one PAN card. Anyone caught with two or multiple PAN cards can face legal action or financial penalty. A penalty of Rs 10,000 can be levied on possession of multiple PAN. Therefore, if you have two or more PAN, then you should surrender the additional PAN. One can surrender additional PAN online.