Quick Summary
A grocery shop owner fromBulandshahr, Uttar Pradesh, has claimed that his Permanent Account Number (PAN) card was fraudulently used to create multiple fake companies, leading to a staggering Rs 141 crore tax demand notice from the Income Tax Department. According to reports, the small shopkeeper was left stunned after receiving the notice, as his annual earnings are nowhere close to the massive transactions attributed to his PAN. The case came to light when authorities flagged large-scale finan
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FAQ :
A grocery shop owner from Bulandshahr, Uttar Pradesh, received a Rs 141 crore tax notice because his PAN card was allegedly used without his knowledge to create fake companies.
The shopkeeper was issued a tax demand notice of Rs 141 crore.
No, the shopkeeper claims his PAN card was misused by fraudsters and he had no knowledge of the transactions attributed to his identity.
He has approached officials to clear his name and requested an investigation into the matter.
Incidents of PAN misuse for creating shell companies and evading taxes have been increasing in recent years.
Experts suggest that tighter Know Your Customer (KYC) norms and advanced tracking mechanisms are needed, along with strengthened safeguards in PAN and GST registration processes.
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