Why surrender a PAN card?

When you are holding more than a single PAN card, you are under the risk of getting penalized for inadvertently or intentionally acquiring it. So in such cases, you must apply for the surrender of PAN card. You will have to surrender the additional one here. According to the act of 139 of the Income-Tax, one person can only hold a single PAN. So if you have more than one PAN card, then you will have to pay the amount of 10000 as a part of a penalty or fine. To avoid such mishaps, one needs to surrender their PAN card.