Is Your PAN Card Being Misused By Someone?

February 16, 2018

If you own a PAN card then be aware of its false use. Following are some possible ways on how your PAN can be misused by someone else.

As you know that PAN nowadays became a basic proof to carry on various financial transactions, but on the same time, it is giving birth to many fraud activities. There are fraud people who are performing some unusual activities via PAN. Look after the following ways in which your PAN can be misused.

You might have used your PAN card number as an identity while booking online tickets by IRCTC website. It is recommended to use other ID proofs other than PAN while performing such activities. It is recommended because, when you are giving PAN number as a proof of identity then, then you may notice that while boarding train your PAN number along with Name and Gender is displayed on the reservation chart. Any binami persons can misuse this information. However, Indian Railways have released the notice, where the full PAN number should not be quoted on reservation charts.

With the use of your PAN number, someone can quote your PAN for TDS, TCS or for something else, even though if you are not related with the original transaction. And later on, this will be recorded in your Form 26AS. If you use Form 26AS Income Tax Statement for Income Tax return then you might be aware of its usage. For such suspicious activities, you may be called by income tax accessing officer regarding that transaction. In spite being innocent you may have to face tax department.

If suppose, anyone gets your Xerox copy of the PAN, then also it may be misused to obtain a loan or credit card or something else in your name. Hence, you need to me more careful while signing a Xerox copy of the form.

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