Online PAN Verification- Step Taken to Check PAN Frauds

Next time when you mention your Income Tax PAN (Permanent Account Number) anywhere be sure to double check its accuracy or you may land up in trouble.
The Income Tax Department has authorized National Securities Depository Limited (NSDL) to launch an online PAN verification service. The service is available to the entities in the following sectors:

• Government Agencies (Central/State)
• Reserve Bank of India
• Banks
• Depositories & Depository Participants
• Mutual Funds
• Companies
• Credit card Companies / Institutions
• Any other entity required to furnish Annual Information Return
• Stock Exchanges
• Companies and Government deductor (Required to file TDS/TCS return)

This step has been taken by the Income Tax Department to facilitate certain entities and institutions to verify (PAN) submitted to them by people or entities while applying for various services, financial products or during the general business dealings. The objective behind the step is to trace and tackle those people who intentionally mention wrong or duplicate PAN.
The Income Tax Department has imposed a penalty of Rs. 10,000 for those who mention wrong PAN.

NSDL provides the following three types of PAN verifications:
(1) Screen based Verification: The users, after login, can furnish up to a maximum of five PANs in the screen provided. The PANs may be entered in the boxes provided in the screen and then submitted. The response giving details of PAN will be displayed in the response screen.
(2) File based Verification: The users, after login, can upload a file containing maximum of 200 PANs (file structure as specified by NSDL). The site will make available, within 24 hours, a response file containing details of the PANs. In case, file format is incorrect, the system will convey the rejection within 24 hours. The entity can download the response at his convenience up to 15 days.
(3) Software (API) based PAN verification: The facility is an interface that allows the user to make an online verification of PAN by accessing the verification-site through a software application.
Click here to see registration process

Also Read:

• Do all PAN Card Holders Need to File Income Tax Return?
• How to read your Income Tax PAN?
• PAN Holders- View Your Income Tax Credit Status Online
• Your Transactions that Income Tax Department Checks
• Is TDS becoming TeDiouS? NSDL India gives you the procedure to cope with it