Want to share with your friends too?

Business
26 Feb 2019

#FinancialBytes: How NRIs can apply for PAN card in India

PAN Card for NRIs

Permanent Account Number (PAN) is a unique, ten-digit alphanumeric identity issued by the Income Tax Department to all tax-paying individuals and organizations in India.

PAN facilitates instrumental financial transactions such as tax payments, entering certain financial contracts, making larger cash deposits, applying for credit/debit cards, filing I-T returns, among others.

It also serves as a government-verified proof of identity.

Here's how NRIs can apply for PAN in India.

In context

PAN Card for NRIs

When and why would an NRI require PAN card?

A non-residential Indian would have to apply for PAN card in India, if they earn taxable income in India, or desire to invest/trade in shares and mutual funds in India, or decide to buy some land or property in India, for purpose other than trading.

Step-by-step guide for NRIs to apply for PAN card

Procedure (1)

Step-by-step guide for NRIs to apply for PAN card

First off, log on to the online PAN application page on the NSDL portal.

Now, if the applicant resides abroad, but is still an Indian citizen, then Form 49A must be selected.

In case, the applicant is now a foreign citizen, then Form 49AA must be chosen.

Fill out the necessary details, and click on 'Submit' button.

After submission, an acknowledgement slip containing a 15-digit acknowledgement number will be issued to you.

Love Business news?

Stay updated with the latest happenings.

Notify Me

Procedure (2)

Final steps

Take a printout of the acknowledgement slip.

Attach necessary documents, viz. an identity proof (DL/Aadhaar card/Voter ID card etc.), an address proof (Passport/Bank account statement etc.), 2 recent passport-size photographs, and the demand draft (if it is the preferred payment mode).

Duly attest these documents and mail to: Income Tax PAN Services Unit, National Securities Depository Limited, 3rd floor, Sapphire Chambers, Near Baner Telephone Exchange, Baner, Pune-411045.

Ask NewsBytes
User Image

Most asked questions

Do all NRIs require PAN card?

Which form is applicable for PAN card application for NRIs?

What is the fee for PAN card application for NRIs?

Is it mandatory to link PAN and Aadhaar?

More questions

Do all NRIs require PAN card?

Asked 2019-02-26 15:11:36 by Aanya Jain

Answered by NewsBytes

Not all, but those NRIs who wish to engage in some sort of financial activity, that requires quoting of PAN, must apply for a PAN card. Such a situation might arise when an NRI decided to buy land/property in India, or wishes to buy/sell mutual funds or shares in India, or carries out other businesses that would earn him/her a taxable income.

Which form is applicable for PAN card application for NRIs?

Asked 2019-02-26 15:11:36 by Devansh Sharma

Answered by NewsBytes

For foreign residents, who still hold Indian citizenship, need to select form 49A, while Indians who have gained foreign citizenship must select form 49AA.

What is the fee for PAN card application for NRIs?

Asked 2019-02-26 15:11:36 by Anika Saxena

Answered by NewsBytes

If an Indian residential address has been provieded by the applicant, then an application fee of Rs. 110 is payable. However, in case a foreign address has been quoted by an NRI applicant in their application form, an application fee of Rs. 1,020 is payable.

Is it mandatory to link PAN and Aadhaar?

Asked 2019-02-26 15:11:36 by Harini Tata

Answered by NewsBytes

In a recent judgement, the Supreme Court pronounced that it is mandatory to link PAN and Aadhaar, in order to file I-T returns.

Next Timeline