does disclosing personal information (to other banks ,agencies )like permenant addrress ,parents phone number given to a bank while opening a ac , mount to breaching confidentiality and privacy as per section 72 of IT ACT?
kavksatyanarayana (subregistrar/supdt.(retired)) 10 December 2023
If any person discloses electronic records, books, registers, correspondence, information, documents or such other material to any other person will be punished. But what you asked does not come under Sec.72 of the IT Act.
T. Kalaiselvan, Advocate (Advocate) 10 December 2023
When you are required to furnish KYC details, you are actually omplying with the conditions meant for that purpose.
No bank will be asking the details of your family members, if they demand that information, you can refuse to furnish them and make a complaint against the staff insisting on it, before their higher officer.
Dr. J C Vashista (Advocate and Legal Consultant) 11 December 2023
Section 72 of Income Tax Act, deals with carry forward of losses suffered by assessee.