PAN Card holders: Suppose you shared your PAN number with someone and he misused your PAN number and took a loan in your name, then in such a situation you will have to repay that loan.
PAN Card holders: In today’s time, both the need and importance of PAN card have increased a lot. Without a PAN card, none of your financial work can be completed. PAN number is required in all financial activities like bank account, credit card, bank loan, mutual funds and share trading. If you do not have a PAN number, then all your important work can get stuck. If you have a PAN card, then you should use your PAN number very carefully. The Income Tax Department keeps issuing warnings about the misuse of PAN.
The result of carelessness can be very harmful
It is usually seen that people are very careless about their PAN number and share their PAN number with anyone. The result of being careless with the PAN number can be so harmful that you cannot even imagine. Actually, cyber criminals can take fake loans, credit cards etc. just by using your PAN number, the liability of which will fall directly on you.
You will have to pay the loan and credit card bill
Suppose you shared your PAN number with someone and he misused your PAN number and took a loan in your name, then in such a situation you will have to pay that loan. Similarly, if someone issues a credit card with your PAN number, then you will have to pay the bill of this credit card. This is the reason why you should use your PAN very carefully.
Also Read- Fixed Deposit Benefits: There is a benefit in getting FD done in your wife’s name and not yours, know why here
Use of PAN will be detected while checking credit score
If you also want to know how many loans are running from your PAN card or how many credit cards have been issued, then it can be detected through CIBIL. Therefore, financial experts recommend checking CIBIL or credit score from time to time. By checking CIBIL from time to time, you will keep getting to know how many loans and credit cards are running from your PAN number.
File a complaint immediately without delay
If you find any kind of fake loan or credit card in your credit report, you should immediately lodge a complaint without delay. You should complain about the misuse of your PAN number to the police as well as your bank and income tax department. Keep in mind that the more you delay in filing a complaint, the more trouble you will get into.
