The Railways display the PAN, name, sex and age of passenger on the reservation charts posted on railway compartments.
This is a boon for Benami transactions.
It is mandatory for traders like jewelers to collect tax (TCS) from customers on purchase of jewelry worth Rs 5 lakh & bullion worth Rs 2 lakhs.
To accommodate high net worth customers, traders have a easy source of benami PAN numbers, name, sex and age from reserved railway compartments.
A traveler recently noticed a chap copying PAN particulars along with name, age and sex pasted on reserved compartments. When confronted with the help of railway police, he admitted that he gets Rs 10 per PAN particulars from jewellers.
These persons are copying PAN information of senior citizens, women, etc. from sleeper class, with the intention that, passengers in sleeper class are not serious tax payers and generally salaried class.
In that case, the IT department will first initiate action from the tax payer's side asking him to explain the sources of money for the above transaction done in his name and also to prove that he has not carried on the above transaction.
You may quote your driving licence :
#, Voter ID #, etc. as your ID Proof… but, definitely not your PAN.
Beware!!!! Spread this message to all your friends and relatives.
This is a boon for Benami transactions.
It is mandatory for traders like jewelers to collect tax (TCS) from customers on purchase of jewelry worth Rs 5 lakh & bullion worth Rs 2 lakhs.
To accommodate high net worth customers, traders have a easy source of benami PAN numbers, name, sex and age from reserved railway compartments.
A traveler recently noticed a chap copying PAN particulars along with name, age and sex pasted on reserved compartments. When confronted with the help of railway police, he admitted that he gets Rs 10 per PAN particulars from jewellers.
These persons are copying PAN information of senior citizens, women, etc. from sleeper class, with the intention that, passengers in sleeper class are not serious tax payers and generally salaried class.
In that case, the IT department will first initiate action from the tax payer's side asking him to explain the sources of money for the above transaction done in his name and also to prove that he has not carried on the above transaction.
You may quote your driving licence :
#, Voter ID #, etc. as your ID Proof… but, definitely not your PAN.
Beware!!!! Spread this message to all your friends and relatives.
