12 March 2010
IF SOMEONE KNOW YOUR PAN NO, YOUR DATE OF BIRTH AND YOUR FATHERS NAME THEN HE CAN HARM YOU BUT CAN NOT USE IT TO HIS OWN BENIFIT. HE CAN REGISTER YOUR PAN ONLINE AND FILE WRONG RETURN.
07 October 2021
Recently, several jewelers were found to misuse PAN card information provided by travelers for the Tatkal booking of railway tickets. These jewelers used to steal PAN card information available in the Indian Railway Ticket Reservation system. Then they used the tax details attached to these PAN cards while selling high-value jewelry to individuals/parties who did not wish to reveal their PAN details in these transactions.
This type of misuse can put you into all sorts of troubles. If your PAN card is misused in this manner, you will not be even aware of this for quite some time. If you are a taxpayer, you will get to know about such transactions when you go through Form 26 AS. This form will give you a consolidated report of all transactions with the deduction of tax thereof. If you do not pay tax, then you may be incomplete dark about these transactions. During the annual tax audit, the Income Tax Department may spot these high-value transactions attached to your PAN card. They may approach you to ask if you carried out those transactions. In this case, you will need to provide all sorts of justifications to convince them. This will be a painstaking sequence of events for you. Therefore, you should take proper care while disclosing your PAN card details to anyone.
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