Permanent Account
Number (PAN) and its use
Permanent Account
Number or PAN is a unique ten-digit number issued by the Income Tax Department
of India. A PAN enables the IT department to identify & link all
transactions of the PAN holder for the purpose of tax payment, TDS/TCS, income
returns, etc. Through PAN card, the information of the PAN cardholder, their
transactions, investments, borrowings, and business activities can be easily
retrieved by the taxation authority.
As of 2019, the
Income Tax Department of India had issued 445.7 million Permanent Account
Numbers. Today, a PAN is an important document required for filing income tax
returns, opening a bank account, applying for insurance, etc. It is essentially
used as a photo ID proof by individuals and corporations to apply for these
services. However, most are unaware of the increasing pan card frauds in India.
PAN Card frauds in
India
“Man earning
Rs. 84,000 a year receives I-T notice to explain Rs. 134 crore deals”
“Man’s PAN card
details stolen, Rs. 20 crore transactions made under false identity”
“Fake Aadhaar,
PAN cards used for duping banks”
Headlines like
these have become quite frequent in the news today. With the number of places
we provide our PAN cards, without a second thought, identity theft has become a
real cause for concern. In a world where we are increasingly dependent on
online means for transactions, and availing services, protecting the physical
copy of your PAN card is no longer enough.
If you have
recently received a notice from the I-T department or charged extra on your
credit cards, there is a strong possibility you are a target of identity theft.
Ways scammers do
identity theft
1. Phishing
A scammer can
contact you via email, phone, Facebook, Instagram or text, impersonating
legitimate businesses like bank, credit card company, internet service
provider. They can give you a link to share your personal details to apply for
their services and misuse your information.
2. Teleselling
People often ask:
is it safe to share pan card number with consultancy? The answer is NO. If
anyone contacts you and asks for your credit card information to confirm your
identity or complete a transaction, do not share any information. To ensure the
identity of a company like Alankit, visit their website, check their reviews
before sharing any details.
3. Fake
surveys
While browsing,
you may be asked to share your feedback or complete a survey for discount
coupons or some gratification. If they ask for personal information like PAN
card, do not participate.
4.
Malware
Sometimes,
cybercriminals target you with the lure of free software or download. If
prompted for the same, do not download such software unless they are from a
trusted site. You may download malware with such downloads that will enable
hackers to track your movements and steal your personal details.
How to avoid pan
card theft?
(a)Avoid opening short links that you receive via emails or SMS, that insist you
to logon to their website.
(b)
Install updated and genuine antivirus on your smartphones and PC.
(c) Do
not share any password or financial information via SMS or email.
(d)Don’t
share your birthplace, date of birth or mailing address on social media
platforms.
(e)Change your passwords periodically and avoid using the same pattern or
passwords for all your applications or cards or accounts.
(f) Check
your bank and credit card statements regularly and report any unrecognised
transactions.
(g)
Mention the purpose whenever you share the xerox copy of your PAN Card within
anyone.
To
apply for a new PAN card, any pan corrections, or loss of PAN card, always use
trusted agencies to help you out. Companies like Alankit that have provided PAN
Card services for over 25 years, can be trusted to keep your personal
information private and secure.
For
any PAN card related query, visit - https://www.alankit.com/govt-services/pan/