- This Page Hits:10429
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.
Dear Suresh, I am pleased to inform you that like the way you provided consultation for my home and explained to me all the changes required inside and outside home. I really appreciate the diagrams that you prepared for my home with pictures and arrows showing the changes need to be done. Above all, you explained very well the reasons behind changes you recommended for my home with great clarity and sense of humor. No doubt in my mind, you are the best Vastu expert, I really appreciate your dedication by building and maintaining a very informative website that is helping thousands of people across the globe. Also, I sensed when I talk to you and when I was dealing with you, you follow honesty and integrity and you have a sincere desire to help others - Kotesware Rao - Dallas - USA
We are tech professionals and working in USA. After a year long search we brought the house. After buying the house I started looking for consultant who can help me evaluating the house. I came across Subhavaastu website which has lot of information. I contacted Mr.Suresh and requested him to help with our house vastu. It has been a great pleasure working with him. He is very detailed oriented person and never compromises with his work. I am typically not interested to deliver the reviews. But after working with Mr. Suresh I decided to share my experience. Mr. Suresh has great expertise in providing vastu consultation to USA property. He is always available through email and phone l to answer questions. I am writing this review hoping it will help other people like me who lives in abroad. Please take advise before buying the house. I highly recommend Mr. Suresh as he has great experience with structure of USA properties and also he provides genuine consultation. I really appreciate Mr. Suresh's help in evaluating our house - Padma - Boston - USA
Hello Sir, My name is Bharathi. Me and my husband have been reading your articles closely. We really appreciate the effort put by you to share your knowledge about vastu and it’s effects - Bharathi - USA.
I have consulted Suresh Garu during December 2014 during the process of buying a house in Texas, USA. I have occupied the house for one year now, and feel like dropping a review regarding my experience during the entire process. I am very much satisfied with the kind of service I received from him. He is very knowledgeable and I was often stunned by his detailed analysis during the course of my interaction with him. He was very much accessible over phone (perhaps more than 10 times for one house plan!) and the price is very much reasonable especially compared with the cost of the house. I noticed his burning desire to help me in making informed decisions on certain things. I have seen some people pretending to know this subject and misguiding those who come for help by saying only what we want to hear. SubhaVaastu is definitely not that one. Finally, I am strong believer of leaving certain things to experts in those subjects. I have been in US for more than 13 years and have seen people doing their own corrections (by reading website articles) trying to save few dollars. Please don’t do that. You would end up in causing more damage. I highly recommend you to engage SubhaVaastu in your next project - Satish - Dallas - TX - USA
Today, we are facing a monumental situation of disaster unprecedented in Indian history. Virtually, the whole state . . . . For more details Free Vastu Services page.
"The real man smiles in troubles, gathers strength from distress, and grows brave by reflection" - "Thomas Paine".
“Great minds discuss ideas. Average minds discuss events. Small minds discuss other people.” ― Eleanor Roosevelt . . . Let you question yourself, "Who You Are"?
Joke Of the Day
Sam: Hi John!
John: Hi Sam!
Sam: Did you know Microsoft just bought "Skype" for ten million dollars?
John: Really ! ! ! idiots.... They could have downloaded it for free.?