• PAN Card is required by an NRI, if he/she has got a taxable income in India.
• According to the new, rule of SEBI ,any NRI not having PAN card cannot do the share trading by depository or broker.
• PAN is also mandatory for an NRI, if he/she would like to invest in Mutual Funds
• If you don’t want to trade but want to purchase some land or other property in India then also it is mandatory to have PAN card issued by Government of India
PAN card application procedure:
(1) First fill up the form 49AA (for which link is given on site) but qualified financial investor should do this through Depository participant only.
(2) After online filling and submission of the form a confirmation screen will appear. You can see the complete date filled by you over there. If still, want to make any changes in your application then edit it or just submit it.
(3) After submission, as you can see, you will get online acknowledgement receipt take at least one print out of it. (It is always better to take one printout extra).
(4) Now paste two recent passport size photographs in the space provided in acknowledgement. (Its specifications should meet the requirement laid down by IT dept., India).
(5) Whether you are doing Signature or using your left thumb, it is to be done in the specific box only. Failing to this your application may be rejected..
(6) Then please attach necessary document along with your application for e.g.POI, POA, 2 color photographs with white background, Demand draft etc.
(1) If you have any communication address in India then you can provide that also for that you need to pay (a) Processing fee: 96 INR along with service tax. (b) You can make payment by any way (debit, credit card, D.D or net banking) except cash deposit. (c) But if you have given communication address is of Foreign county then you can make payment only by debit /credit card or D.D. Demand draft should be drawn in the favor of NSDL-PAN payable at Mumbai.(Please do not forget to mention your application no. on the reverse of Demand draft). (d) And amount you have to pay will be 962 INR. Which is comprises of application fee, tax and postage. (e) At present this service is available only for 99 specific countries
(1)Your acknowledgement, Demand Draft, if any, and proofs, should reach NSDL within 15 days from the date of online application.
(2)Applications received with demand draft or cheque as mode of payment shall be processed only on receipt of relevant proofs and realization of payment.
Given are some Do’s and Don’ts while filling your online application:
1. Fill the application using blank ink. And do not forget to do so in Block letters..
2. Do the signature in the given box and not over the photograph.
3. Make sure that you are providing correct AO code.. Please follow these rules while submitting Proof of Identity (POI) and Proof of Address (POA). a) Make sure that the name given on POI and POA should match the name given in application. b) If applicant is minor then his / her representative should also submit POA and POI.
1. It is not advisable to overwrite or to make corrections in the given application.
2. Do not attach photographs to application by means of pin or staple.
3. While making signature, do not write date or place underneath the sign.
4. Do not mention Husband's name in the Father's Name column.
5. Last but not the least; please do not apply for the PAN card if you already have one.
Documents that a NRI need to submit at the PAN center:
NRI or non-resident Indians will require submitting the following documents in order to obtain PAN card in India:
- A completed copy of form 49A along with a recent colored photograph of 3.5 X 2.5 cm has to be submitted. This form can be obtained from the website of the Income Tax department, the UTIISL or the NSDL as well as the TIN facilitation centers located all across the country.
- A copy of the passport is required.
- The NRI will have to supply a proof of address. The bank account statement of the country of residence may be supplied.
Required documents for PAN in case of foreign nationals (including OCI and PIO card processors):
If a foreign citizen is engaged in any financial operation in India, he has to get a PAN card. The following documents, in addition to the completed form 49A are necessary:
1) In order to furnish proof of identity, foreign individuals can present one of the following documents:
o The copy of the passport can be provided.
o The Government of India issues a PIO (Person of Indian Origin) card which is also acceptable.
o The third document which may serve as the identity proof is the OCI (Overseas Citizen of India) card issued by the Government of India.
2) The proof of address is supplied by the following documents:
o The copy of passport can be submitted.
o The bank account statement in India is another valid document for this purpose.
o You can also show the residential permits which are issued by the State Police Authority.
o The NRE bank account statement can be shown.
o The OCI card can also be used.
3) In case the office address has to be supplied, then in addition to any of the above documents, all of the following documents are needed. These are:
o The copy of the visa granted by India has to be produced.
o The copy of the appointment letter issued by the Indian company is necessary.
o A certificate of address in India has to be issued by the employer or his authorized signatory.
o The copy of the PAN card which is mentioned in the above certificate has to be produced.
4) If the foreign individual is not present in India (it is not compulsory to be so), then the following documents are necessary:
o All the above mentioned identity proofs are valid. Otherwise, the person may also produce a National ID which is signed and approved by the Indian consulate or embassy.
o The address proofs are same as mentioned before, like passport, PIO card or NRE bank account statement. Additionally, bank account statement approved by Indian embassy or consulate may be produced.
5) Finally, if the foreign individual does not yet have an office in India, he has to supply the following documents:
o Copy of registration in India or approval given by concerned Indian authorities.
o The approved copy of registration certificate of the country to which the individual originally belongs.