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Procedure To Apply For A NRI PAN Card.

Detailed explanation of the steps involved in applying a PAN card for NRI.

What is a Permanent Account Number (PAN) card?
A permanent account number (PAN) is a ten-character alphanumerical indentification number issued by the Indian Income Tax Department in the form of a plastic card with a scannable QR code, called a "PAN card" to an "individual" or "entity" that files for it. This also comes as a PDF file, referred as a e-PAN or digital copy that is sent to the filer's email address.

A PAN is a unique identification number assigned to all eligible individuals and entities as defined by the Indian Income Tax Act, [1] 1961. On the same lines, section 139A of the Income Tax Act authorizes the issuance of the this number printed on a card. It is issued by the Indian Income Tax Department, which is supervised by the Central Board for Direct Taxes (CBDT), and serves as an important form of identification and enables financial tracking.

To put it simply, PAN is an electronic system that records all of a person's or company's tax-related information against a single PAN number. This serves as the primary key for data storage and is distributed throughout the country. As a result, no two tax payers will share a same permanent account number.

PAN's primary goal is to use a universal identification key to track financial transactions that may contain taxable components in order to combat tax evasion. Throughout India, a change of address has no effect on the PAN number.


WHO CAN SUBMIT AN APPLICATION FOR A PAN NUMBER?
Any individual who earns taxable income in India, including foreign nationals who pay taxes in the country.

Anyone who owns or operates a business (whether retail, services, or consulting) and had total sales, turnover, or gross receipts in excess of Rs 5 lakh in the preceding financial year.


Who qualifies for a PAN card?
Individuals, businesses, non-resident Indians, and anyone else who pays taxes in India are issued PAN Cards. It is also open to non-resident Indians living abroad. Individuals, HUFs-Hindu undivided families, corporations, firms/partnerships, trusts, and societies, as well as foreign nationals, non-resident Indians, and international businesses, are all eligible to obtain an Indian PAN number.

Additionally, the following are a few instances in which you would be required to provide your PAN.
(a) The sale or purchase of immovable property worth at least Rs 5 lakh.
(b) The sale or acquisition of a vehicle that is not a two-wheeler.
(c) Payments to hotels or restaurants in excess of Rs 25,000 in a single transaction.
(d) Payment in cash in excess of Rs 25,000 for travel to any foreign country.
(e) Payment of at least Rs 50,000 to the Reserve Bank of India for the purpose of acquiring bonds.
(f) Making a payment of at least Rs 50,000 to a company or institution for the purpose of acquiring bonds or debentures.
(g) Making a payment of Rs 50,000 or more to a company for the purpose of acquiring shares.
(h) Any purchase of a mutual fund.
(j) Make a 24-hour deposit of more than Rs 50,000 with any single banking institution.
(k) Payments in excess of Rs 5 lakh for bullion and jewelry.


Why Do Non-Resident Indians Need A PAN Card?
If you are an NRI, you must have a PAN card in order to conduct the following financial transactions in India:

Receive taxable income in India in the form of salary or professional fees.
Establishing a bank or fixed deposit account.
Establishing a depository account.
Requesting the issuance of a credit or debit card.
Mutual Fund Investing or buying insurance.
Sell or acquire real estate or other assets.
Getting all sorts of loans.
Obtaining a passport or visa.
Buying or selling immovable property (real estate).
Foreign remittance application.
Over Rs. 50,000 in deposits or withdrawals from a bank.
PAN cards are required by SEBI to trade in the Indian stock market.
And in various other situations, where you are required to have one by rule.


So what information does the PAN card show about the allottee?
The PAN card contains information about the holder's identity, proof of age, and also complies with Know Your Customer (KYC) regulations. The following information is contained on the PAN card:

A. Cardholder's name – Individual/Corporation

B. Father's name of the holder (only exhibited in case of individual allottees only).

C. Date of birth – in the case of an individual, the cardholder's date of birth is specified, while in the case of a company or firm, the cardholder's date of registration is specified.

D. PAN Number – This is a ten-character alpha-numeric code in which each character represents a unique piece of information about the cardholder.



How to Apply for a PAN CARD as a Non-Resident Indian?
One can apply for a PAN by submitting the prescribed PAN application to the district's authorized PAN agency or by submitting it online to NSDL along with two face photographs, identification proof, and proof of address. A photocopy of the previous PAN is also required in the case of a reprint (reissue).

1. On the homepage of the TIN NDSL website, click the "Online PAN Application" tab.

2. From the two options provided, select Form 49A, which is the form for Indian citizens.

3. An instruction page will open. Take time to carefully read the instructions.

4. At the bottom of the page, from the drop-down menu, select the applicant type.

5. A new tab will open with an online form. Complete the required fields, taking care to adhere to the form's instructions for completion.

6. After completing the form, an option will be provided to review the information.

7. If the facility is applicable to you, upload the necessary documents (if you have a DSC signature).

8. Once you've reviewed the information, click "Submit."

9. A payment gateway will open, allowing you to make a credit card payment for the processing fee.

10. Alternatively, you can pay by cheque/DD drawn on an Indian bank.

11. A screen will display an automatically generated acknowledgement. The acknowledgement should be printed and two photographs should be pasted in the spaces provided.

12. Sign the acknowledgement in the appropriate spaces provided and, if you have not uploaded copies of the documents, attach them.

13. If you did not pay via net banking/credit card, enclose the cheque/DD and mail it along with the acknowledgement and any other documents to the address printed on the acknowledgement.

14. Within 21 working days of receipt of the acknowledgement, the PAN card will be mailed to the address specified on the form.


The following documents are required to apply for an NRI PAN Card.
When applying for a PAN card, NRI applicants must submit the following documents:
A. Two passport-sized photographs taken within the last year.

B. Passport photocopy.

C. Verification of overseas address - a copy of an overseas bank statement.


How to pay the government fee online.
If your communication address is in India, you will be required to pay a registration fee of Rs.110. You can pay with a credit card, a debit card, a net banking account, or a demand draft.

If your communication address is located outside of India, you will be required to pay a registration fee of Rs.1,020. You may pay using a debit card, a credit card, or a demand draft. If you choose to pay by demand draft, it must be made payable to Protean eGov Technologies Limited-PAN' in Mumbai.
You should be aware that foreign credit cards are not currently accepted for payment.

What to Do and What Not to Do When Filling Out the PAN Update Form!

1. The form must be completed in capital letters only.

2. Complete all fields that require updating.

3. A mobile number is required to receive updates.

4. Complete the form in English and the local language of enrollment.

5. Ensure that the form is completed with only current and pertinent information.

6. Verify that the address is complete and accurate in order for the PAN to be delivered to the address.

7. When self-attesting supporting documents, clearly enter your and your father's names using a signature or thumbprint.

8. Include only those documents that are necessary to support the required update.

9. Incomplete information and a deficiency in supporting documents will result in the application being rejected.


How long does it take for an NRI to obtain a PAN (processing time)?
After successfully paying the fee and submitting all required documents, it may take an NRI approximately 15-20 days to receive the PAN. The PAN will be mailed to the application's communication address.


How do I track the status of my submitted PAN applications?
Your application can now be tracked by the Income Tax department. You can access the status of your application case by visiting the following link and entering your tracking or coupon number.


Is a PAN required for an NRI?
A NRI is an Indian national who has temporarily relocated or immigrated to another country for a specified period of time. An NRI is still an Indian citizen with an Indian passport, with education and employment as the primary reasons for immigration. There are close to 3 crore NRIs worldwide, according to estimates.

No, not all NRIs are required to have a PAN, but those with a source of income in India are required to have one in order to file their taxes. This income could come from rent, dividends on stocks, or mutual fund returns, among other sources. Other NRIs who do not have a source of income in India are not required to have a PAN, although it is prudent to apply for one and keep it on hand in case of an emergency.

The following are the advantages of having a permanent account number (PAN) for a non-resident Indian (NRI):

- A PAN is a critical identifier in the country, as it serves a variety of useful functions, as detailed below.
- A PAN simplifies the tax payment process because it is required of all taxpayers.
- Without a PAN, NRIs are unable to invest in securities or mutual funds.
- In India, PAN is required for the purchase of real estate or vehicles.
- Deposits in excess of a certain amount require a PAN.
- Possessing a PAN simplifies the KYC process at the majority of banks.


To sumup....
The Permanent Account Number (PAN) is a vital piece of identification in India's financial system tracking. It is issued by the Indian Income Tax Department, which is under the supervision of the Central Board for Direct Taxes. PAN Cards are issued to individuals, businesses, non-resident Indians, and anyone else who is required to pay taxes in India. Having a PAN card is mandatory if you are an NRI in order to conduct the following financial transactions while in India:.

In India, you can earn taxable income by earning a salary or charging professional fees. An alpha-numeric code consisting of ten characters in which each character represents a distinct piece of information about the cardholder is known as a PAN Number. Application for a PAN can be made either by submitting the prescribed PAN application to the district's authorized PAN agency or by submitting it online. If you paid using net banking or a credit card, please enclose a cheque or demand draft and mail it, along with the acknowledgement and any other supporting documentation. The PAN card will be mailed to the address specified on the application form within 21 working days of receipt.

In most cases, it takes approximately 15-20 days for an NRI to receive their PAN after successfully paying the fee and submitting all required documentation. An NRI is still an Indian citizen with an Indian passport, and the primary reasons for immigration are education and employment. PANs are important identifiers in the country because they perform a variety of useful functions. Possession of a PAN streamlines the Know Your Customer (KYC) process at most financial institutions. A Permanent Account Number (PAN) is required for the purchase of real estate or automobiles.