Permanent Account Number (PAN) is a unique 10-digit alphanumeric identification code allotted by the Income Tax Department under the supervision of the Central Board of Direct Taxes to every taxpayer. It also serves as valid identity proof. Every Indian citizen must have a PAN card to file returns and financial transactions. Similarly, having a PAN card becomes mandatory for non-resident Indians (NRIs) as well. As an NRI, you need a PAN card in the following scenarios:
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- If you earn a taxable income in India.
- If you wish to trade in shares through a depository or a broker.
- If you want to invest in Mutual Funds.
However, for NRIs, obtaining a PAN card requires a different set of documents.
Let’s take a look at the procedure of applying for an NRI PAN card:
- As an NRI, first, you need to fill out Form 49A if you have Indian citizenship.
- But if you have citizenship in another country, you have to fill out Form 49AA.
- You can submit forms online through UTIITSL or NDSL websites.
- Once the form is submitted, you have to send an acknowledgement copy along with a 15-digit number generated to the designated address with the documents.
- Your provided communication address within India will charge you Rs 107, while outside India will cost Rs 989 inclusive of application fees and dispatch charges.
- Then pay fees online through debit card, credit card or Net banking. Alternatively, you can dispatch a demand draft to the PAN application centre of UTIITSL or NSDL, along with the documents and form.
Required Documents
- In the acknowledgement form, you need to provide two passport-sized photographs
- A copy of your passport as identity proof
- A copy of a bank account statement from your residing country
- A copy of the NRE bank account statement duly attested with at least two transactions in the last six months.
