Every individual in India requires a PAN card to be able to file returns and financial transactions. A Non-resident Indian (NRI), similarly, should have a PAN card and is required to follow specific procedures to obtain it. But the documents that an NRI requires for getting a PAN card are not the same as those needed by an Indian citizen.
PAN (Permanent Account Number) is an identification number assigned to all taxpayers in India.
PAN is an electronic system. Through the system, all information related to tax for a company or person is recorded against a single PAN number, acting as a primary key for the storage of information. Two tax paying entities can never have the same PAN.
A PAN card is issued to companies, individuals, NRIs or anyone who pays taxes in India.
The following are the steps a Non-resident Indian needs to do to apply for a PAN card:
- If a Non-resident Indian has Indian citizenship, they need to fill in form 49A.
- NRIs who have citizenship in another country have to fill in Form 49AA.
- Forms can be submitted online through UTIITSL and NDSL websites.
- After the form is submitted, an acknowledgement copy and a 15-digit number generated must be sent with the documents to the designated address.
- Communication address that the NRI provides inside India will cost Rs. 107, whereas it costs Rs. 989 outside India, including application fees and dispatch charges.
- Online applications are required to pay fees through debit/credit card or Net banking.
- A demand draft can alternatively be dispatched to UTIITSL/NSDL with documents and form.
The following are the documents required:
- In the acknowledgement form, two passport-sized photographs need to be provided.
- As identity proof, a copy needs to be submitted as a copy of the passport.
- A copy of a bank account statement in the residing country is required.
- A copy of the NRE bank account statement is required, attested with at least two transactions in the past six months.
The following are the types of PAN:
- Individual
- HUF-Hindu undivided family
- Company
- Firms/Partnerships
- Trusts
- Society
- Foreigners
