Can PAN card details be misused?

Beware of PAN FRAUDS: 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.

What information can we get from PAN number?

Last character, i.e., the tenth character is an alphabetic check digit. PAN enables the department to identify/ link all transactions of the PAN holder with the department. These transactions include tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence etc, and so on.

What can a person do with PAN card?

Benefits and Uses of PAN Card

• For purchase or sale of vehicles except for two-wheelers.
• For opening an account with a banking company except for time deposit wherein PAN card details is required for a time deposit of amount exceeding Rs 50,000 or totalling more than Rs 5,00,000 during any financial year with –

Is it safe to give pan card number to PayPal?

PayPal accounts can be opened without the provision of PAN details, but individuals who do not provide their PAN card information will not be able to send or receive funds in their PayPal account unless they have entered their PAN card information along with the bank details requested during registration of their …

How can I protect my PAN card?

Here are a few ways you can prevent fraud.

1. Use your PAN card only where compulsory.
2. Don’t fill details of birthdate or full names publicly or on insecure online portals.
3. Secure the original and photocopies of your PAN card.
4. De-link your Aadhar card from your bank accounts because it is no longer mandatory.

How can I transfer money through PAN card?

In the bank, you have to fill a PAN updation form. Make sure to have a self-attested copy of the PAN card with the necessary documents. Write an application form to the Branch Manager regarding linking the PAN with your bank account. After this simple process, PAN number will be linked to your account.

How can I link my Aadhar card with PAN number?

To link the PAN card with Aadhaar, one must visit the e-filing portal of the Income Tax Department and click on the ‘Link Aadhaar Section’. Once done, the PAN number, Aadhaar number and name must be filled. The IT Department will validate the information and the linking will be done accordingly.