1. What is NRI PAN Card?
NRI PAN card is a PAN (Permanent Account Number) card issued to Non-Resident Indians (NRIs). An NRI PAN Card is provided explicitly to NRIs who want to file their income tax in India or are willingly interested in conducting financial transactions in India. NRIs are mandated to have a PAN card if they want to open any bank account in India, want to invest in India, or conduct any type of financial transaction within a specific limit.
2. What is PAN?
PAN is an acronym for Permanent Account Number with a 10-digit alphanumeric code. PAN is used for the unique identification process. The Income Tax department is responsible for providing this number to every taxpayer or the person who applies for it. A PAN is a necessary document to file income tax returns.
3. Eligibility For NRI PAN Card
There are some conditions that must be fulfilled by the NRIs who want to apply for PAN online Or offline. These are as follows- For NRIs who want to do any type of transaction in India For NRIs who wish to invest in property in India For NRIs who are earning a taxable income in India For NRIs who wish to invest in mutual funds By fulfilling the above-mentioned criteria, an individual can apply for NRIs PAN either online or offline.
4. What Are The Required Documents For NRI PAN Card?
An individual with Indian citizenship needs to furnish form 49A along with other relevant documents. Although, if an NRIs wish to apply for NRI PAN card with foreign citizenship, would need to furnish form 40AA along with other documents. Below are the basic documents for NRIs (with Indian citizenship) who need to furnish along with their PAN application Form 49A - Passport size photograph Identification proof like an Aadhaar card, Voter ID or Driving License. Address proof like a passport copy, bank account statement in the resident country, or NRE bank account statement copy, which shows at least two transactions in the last 6 months. OCI (Overseas Citizen of India) card or Copy of PIO (Person of Indian Origin). An individual (with foreign citizenship) who want to apply for a NRI PAN card with an Indian office address will need to furnish Form 49AA along with the other documents. Below are the documents required to be furnished by the individuals. Copy of the Appointment letter given by the Indian office. Copy of the original address certificate of the applicant issued by his/her Indian employer. PAN card of the employer for verification. Moreover, in case an NRI opts for an offline payment mode, such as a demand draft, for the PAN application fee, they must enclose it along with the application.
5. How To Apply For NRI PAN Card?
The individual can apply for NRIs PAN either online or offline. The income tax department authorized NSDL and UTIISDL to issue PAN to NRIs. Let’s dive into the detailed steps of applying PAN for NRIs.
6. Online PAN Application for NRIs
To apply for NRIs PAN online, following are the steps to be fulfilled by the applicants. Go to the TIN portal and click on “Apply Online”. Next, below of the “Application Type”, select either Form 49AA for NRIs with foreign citizenship or Form 49A for those with Indian citizenship. Then fill in all the required details, & enter the captcha and click on “Submit”. You will be redirected to the next page of the NRI PAN card application form. Fill out this form carefully, and provide all the important details & your signature, and then click on “submit”. Lastly, your need to pay your application fee on the payment page to complete the process. After completing the above-mentioned steps, you will get an acknowledgment slip including a 15-digit number. You can use this acknowledgment number to check the status of your application.
7. Offline PAN Application for NRIs
If you want to apply for NRI PAN offline rather than online, then the following are the steps for you. The first step is to go to the nearest IT PAN service center, either NSDL or UTITSL. Get your relevant application form (49A) or (49AA). Fill out the form with the relevant documents, signature, and ID proofs. Ensure to provide correct details. In the third step, you need to submit all the necessary photocopies of supporting documents. Lastly submit the form at the facility & pay the applicable fee. After completing the process, you will get an acknowledgment number with an acknowledgment number. You can use this acknowledgment number to track your application online on the NSDL or UTITSL website. Note - It may take 15 to 20 days for the issuance of your PAN card from the date of application.
8. What Are The Advantages of NRIs PAN?
There are numerous benefits for NRIs (Non-Resident Indians) who have financial transactions in India. Here are some advantages of having a PAN card for NRIs: A PAN card is a valid identity proof for NRIs in India, and this can be used as a identification proof in various transactions such as opening a bank account, investing in stocks, buying or selling property, etc. NRIs who have an income in India are to file income tax returns, and a PAN card is necessary for this purpose. Without a PAN card, NRIs cannot pay taxes, claim tax refunds, benefits, etc. NRIs can avoid TDS on their income by providing their PAN card details to the person making the payment. This is because the PAN card helps the government track the income of individuals and ensures that taxes are paid on time. A PAN card is necessary for NRIs who want to invest in the Indian stock market or mutual funds. NRIs PAN card is an essential document who have financial transactions in India, and it provides several advantages such as identification, taxation, investment opportunities, etc.
9. Points To Remember For NRI Registration
The form must be only filled out in black ink while applying for PAN through the offline mode. Applicant should bold the important details furnished in the form. Make sure that you have attached the proof of identity and your address securely to the forms. Any false information may attract the rejection of an application. If an applicant is a minor, his/her representative can also submit the address and the identity proofs. Apart from these points, there are certain don’t too that must be kept in mind before applying for the NRIs PAN form These are as follows - Any overwriting or correction in the form may lead to the rejection of the PAN application. Stapling or pinning photographs are not acceptable. Thus, The required photographs must be attached to the form. While signing a form, NRIs should keep in mind to not to give a date or place under his/her signature. One Should fill out the information carefully in the form. Any type of mistake in the information may lead to the rejection of the PAN application. One can not apply for a PAN card the second time if s/he already possesses one.
Frequently Asked Questions
Can NRIs apply for a PAN card?
Yes, NRIs (Non-Resident Indians) can apply for a PAN card. The application process for NRIs is the same as that for Indian citizens.
What are the documents required to apply for a PAN card as an NRI?
NRIs need to submit the same documents as Indian citizens, which include proof of identity (such as a passport), proof of address (such as a bank statement or utility bill), and proof of date of birth (such as a birth certificate or passport).
Can an NRI apply for a PAN card online?
Yes, NRIs can apply for a PAN card online through the NSDL or UTIITSL websites. They can also apply through authorized PAN service centers.
Can an NRI surrender their PAN card if they no longer need it?
Yes, an NRI can surrender their PAN card if they no longer need it. They can do so by submitting a request for surrender to the nearest NSDL or UTIITSL office.
Is it mandatory for NRIs to have a PAN card?
It is not mandatory for NRIs to have a PAN card, but it is advisable to obtain one if they have financial transactions in India or need to file income tax returns.
Can an NRI use their foreign address on their PAN card?
No, NRIs cannot use their foreign address on their PAN card. They must provide a valid Indian address for communication purposes.
How long does it take to receive a PAN card as an NRI?
It typically takes around 15-20 working days to receive a PAN card after the application is submitted. However, the processing time may vary depending on the volume of applications received and other factors.