In this globalized economy, NRIs or Non-Resident Indians are scattered throughout the globe in search of jobs and business. PAN is mandatory for resident Indian taxpayers. For those NRIs who want to participate in stocks or to receive rent in India, they are expected to have a PAN.
Documents Required to Apply for NRI PAN Card:
NRI applicants have to submit the following documents to apply for a PAN card:
2 recent pp size photographs
Copy of passport
Overseas address proof- copy of overseas bank statement
Procedure to Apply for a PAN
An NRI can follow the following simplified steps to apply for a PAN.
• First, you will have to log in to TIN-NSDL or UTIITSL official website.
• Using Form 49A, provide the necessary information as required
• Submit the form along with the necessary documents (photographs, proof of address, ID proof and proof of age)
• If the communication address is within India then a fee equivalent to INR 107, or INR 989, if the communication/delivery address is outside India, has to be paid
• Once the fee is paid, an acknowledgement number will be generated which can be used to track the status of a particular application
Online Application for NRI PAN Card:
• First log in to TIN NDSL. On the homepage you will see an option “Online PAN Application” select that.
• Select Form 49A – a form for Indian citizens, from the two options provided.
• An instruction page will open, read it before filling up the form.
• From the drop-down menu at the bottom of the page, select the type of applicant.
• An online form will open in a new tab. Fill up the relevant details as per the instructions are given.
• An information page will be available for you before you start filling the online form. We will recommend you to go through it.
• If you have the facility (if you have a DSC signature), upload the documents.
• After reviewing, click on “Submit”.
• Then a payment gateway will open, by dint of which you can pay the processing fee by credit card.
• You can also pay by cheque/DD from an Indian bank.
• An auto-generated acknowledgement will appear on the screen. Take Print out of the acknowledgement and paste two photographs in the spaces provided.
• Sign the acknowledgement on the appropriate spaces provided for the same. If you have not uploaded copies of the documents then attach them.
• On the off chance that payment was not made through net-banking/Mastercard, append the check/DD and post the affirmation just as different archives to the location imprinted on the affirmation.
• The PAN card will be posted to your declared address within a period of 21 working days from the date of receipt of the acknowledgement.
Is it necessary for an NRI to have a PAN?
No, to have a PAN is not mandatory for all NRIs. Those NRIs who have a source of income in India need to have a PAN in order to file their taxes. Other NRIs with no source of income in India need not have a PAN, However, it is advisable to apply for a PAN and keep it handy for future use.
Benefits to NRIs for having PAN:
- A PAN simplifies the taxpaying procedure, tax payment mandatory for all taxpayers
- Without a PAN an NRI cannot invest in securities or mutual funds.
- PAN is required to purchase a property or vehicles in India
- Depositing amounts over a certain limit require PAN
- It the KYC procedure in most banks
Time taken for an NRI to Receive the PAN
The PAN card will be posted to your declared address within a period of 21 working days from the date of receipt of the acknowledgement.
