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Pancard Scams (Permanent Account Number) - Care About Your Identification:
Why we are publishing this information, because it is useful for the public, to save your hard earned money we published this PAN card scam information here. If you have any friends, please inform this link to them, they will cautious and careful when dealing with below transactions. What is our benefit here, its simply nothing. To safe guard public money from many cheaters in the society.
The importance of Permanent Account Number (PAN) card has grown over the years, and it is today an essential part of our lives. The most important purpose of allotting PAN to an entity is for the purpose of identification and to track all the related monetary information of that entity. Initially, the significance of PAN was for filing income tax returns. Over time, PAN was used in dealings with the stock markets, banks and purchase of real estate and vehicles. Today, PAN has started finding use in unconventional areas as well, as follows:
Bank Fixed Deposits: If you open a fixed deposit with your bank for an amount exceeding Rs. 50,000, a copy of PAN card needs to be given. In absence of PAN, the bank will deduct TDS of 20% or at the prevailing rate, whichever is higher (instead of the normal 10%). Further, the bank will not issue TDS certificate. Form 15G/15H and other exemption certificates will be invalid in this case.
Payment in Hotels and Restaurants: You may asked to submit a copy of your PAN if you pay cash in hotels or restaurants against bills for an amount exceeding Rs. 25,000/-.
Payment to Travel Agents: Cash payment more than Rs. 25,000 for travel to any foreign country (fare or purchase of foreign currency) in a single payment requires you to produce your PAN copy.
Rental Agreements: Nowadays, landlords demand a copy of the PAN card of tenants, as the primary ID proof, while letting out their property.
Jewellery shops: High-value purchase of jewellery in cash should be accompanied by a copy of the PAN card of the buyer, mainly as a means to curb black money usage.
Other usages of PAN include:
Payment in Second Hand Car Dealings
Installation of Telephone
Visa Facilitation Centers
It is seen that quoting or producing a copy of your PAN card is compulsory in practically every money transaction, and not restricted to Income Tax dealings. The significance of PAN cannot be questioned as this has become the primary document sought in all important legitimate dealings.
Do NRIs require PAN Card?
As PAN is required for any financial transaction in India, an NRI will need to have a PAN card if he has an income in India and has to file returns, if he wishes to invest in India, when he carries out banking transactions, if he purchases real estate or for any transaction mentioned above.
Beware of PAN Frauds:
The increasing importance of PAN has increased the likeliness of PAN Card identity theft. The safeguarding of the physical copy of the PAN card no longer assures that your card is not being misused. As a majority of transactions demand a photocopy of your PAN card, or simply quoting the Permanent Account Number, it is very easy for your information to be misused for high ticket purchases or benami property transactions. A copy of your PAN card or simply its number can be quoted in transactions, which you are not even a part of.
Example of how your information can be misused: Recently, a consumer activist group revealed that the PAN card copy used in Railway ticket Tatkal bookings were misused by several jewelers. When an individual produces his PAN to book the Tatkal tickets, this information is fed in the Indian Railways system and also displayed on the ticket, reservation chart and train coaches. Unscrupulous jewelers steal this information from such public displays and use it to furnish tax collected details while they sell jewellery of very high value to high-net worth individuals who do not wish to produce their PAN.
If this happens to you?
When your PAN card is illegally used, you may not even be aware of this for atleast 6 months after the wrong transaction. You can check for such benami transactions by going through your Form 26AS, which is a consolidated statement of tax deducted, along with other details. If you are a non-tax paying PAN card holder, you may not even be able to check this form. The Income Tax department will require the PAN card holder to prove that the transaction was not carried out by him, and also give details on his source of funds. This becomes very difficult and time-consuming. As a PAN card holder, you should take care while disclosing your PAN details to anyone. You must hand over only signed photocopies and try to reduce using PAN in all casual transactions as ID proof.
Phonetic PAN (PPAN):
The phonetic PAN (PPAN) is a new concept introduced to prevent a single PAN being allotted to more than one assessee with same or similar names. When PAN is allotted, the PPAN of the assessee is compared with the PPANs of all the assessee's to whom PAN has been allotted in the country. A warning is sounded off if a matching PPAN is detected. A duplicate PPAN report is then generated. A new PAN can be allotted only if the Assessing Officer overrides this duplicate PPAN detection.
Thus the PAN is a key document today and even takes predominance over your name as far as the tax authorities are concerned.
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We are seeing at several places sudden eruption or outburst even among closely knit families. In addition constant friction based on imaginative behaviour of spouse, father, mother, siblings, cousins etc haunt us and we our self take contrary position in every situation leading to permanent discord. After some time we become hateful to each other without any cause or purpose. These are situations which we may not like to discuss with other people and seek their advice. In such cases we think we are fated. This patently is wrong. Many people don’t know the power of vastu and how it influences the residents. Not knowing this is no fault. But not attempting to know borders on foolishness. We confirm authoritatively that these situations are in most cases results of vastu infirmity. This can be analysed and pointed out only by a competent vastu scholar. We are prepared to offer free of cost services only online in this regard for 10 days from 3rd of September, 2017 upto 14th of September 2017. During this period kindly seek our advice and profit by it. Its costs you nothing. Thanking you. Team – SubhaVaastu.com. More details available at Free Vastu Services page.
Days are changing, most of us sitting before FaceBook, WhatsAPP, Twitter, YouTube and paying attention to foreign websites, may be this would be the reason people does not have patience, most of them forgotten our/their cultures, traditions, methods, systems and TIME. Just passing days by observing videos, after observing all these worst scenario in our society we thought to introduce some attractive devotional wallpapers. We got many appreciations from various inventive knowledgeable brilliant residents from different parts of the world and stated that these wallpapers never divert them from their routine work. Thanks a lot for their honest message. Let us experience our ancient and traditional Devotional Wallpapers
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Joke Of the Day
Wife calls her husband and says, “Darling, the car is broken, it won’t start.”
Husband: “What?! It’s in perfect order, what’s wrong with it?”
Wife: “It’s water in the carburetor, love.”
Husband: “Oh no, where are you right now?”
Wife: “Um, in the little lake behind the house…”