​​​​Penalty under Section 272B may be imposed for the following defaults:

1. ​Failure to apply for Permanent Account Number (PAN), if it is required to be applied;
2. Failure to quote PAN or Aadhaar in returns, challans etc.;
3. Failure to intimate PAN or Aadhaar to the person responsible for deduction or collection of tax;
4. Quoting or intimating a PAN or Aadhaar which is false or and which he either knows or believes to be false or does not believe to be true;
5. Failure to quote PAN or Aadhaar in documents pertaining to financial transactions as prescribed under Rule 114B;
6. Failure to authenticate PAN or Aadhaar;
7. Obtaining multiple PAN.​
   

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