Permanent Account Number or a PAN issued by the Indian Income Tax Department is must in these days for all the financial transactions. It is also prone to fraud. Let’s see here about the same.
There are several kinds of fraud happening with the PAN card now-a-days. As PAN card is essential for all the financial transaction, we tend to give our PAN card Xerox for these transactions. That’s where it slowly falls into the hands of wrong person and get misused. Recently, it was found that a Xerox of Pan Card given for Railway Tatkal bookings were misused by some jewellers. Normally, if your PAN Card alankit fraud takes place, you will not be aware of the same at least for six months. But this will get recorded in the Form 26AS and when you check it out, you will get to know about it. Form 26AS is nothing but a consolidated statement of tax. Then the person will have to prove to Income Tax department about his source of income and this is a time consuming process. Hence, it is required that you should be careful while giving your PAN Xerox to anyone and should reduce the use of it to minimal. If in case, it has to be given then only those Xerox copies that are duly signed by you should be given.
Yet another way of misusing your Pan card is by using your card by some unknown person to get loan. He might be having a bad credit rating and to avail the loan, he might misuse alankit frauds to get loan. However, it is your credit rating that will get affected. Hence, it becomes imperative that you do not share your personal details in the social media or with any unknown person. As all these might lead to PAN card misuse.
From all of the above, it becomes imperative that safe use of your PAN card is essential. Minimise the use of PAN card and wherever possible give any other valid ID card as proof. All these will help minimise the PAN card frauds.
Frauds can happen anywhere on anything. PAN Card is one of the important documents. One should keep a track of it from applying till you get the final PAN card and even after that. There are many organizations that provides the genuine pan card services and will tell you to curb all these pan card frauds. One of them is Alankit Limited. I've used the services of alankit limited and their services are genuine.
ReplyDelete