You could require a PAN (Permanent Account Number) card as a non-resident Indian (NRI) for a variety of financial operations in India.
The Indian Income Tax Department issues PAN cards to individuals, businesses, and other entities. Each PAN card has a unique 10-digit alphanumeric identification number.
We will go over how to apply for a PAN card as an NRI in this article.
1. Initialization
For NRIs, a PAN card is a crucial piece of documentation because it is needed for many financial operations, such as opening a bank account, making investments in India, and filing tax returns.
Applying for a PAN card is a simple process, and NRIs can do so both online and offline.
2. A NRI's eligibility for a PAN Card
Any NRI who invests in India or earns taxable income there is qualified to apply for a PAN card.
NRIs without taxable income in India are also eligible to apply for a PAN card for identification needs.
3. Paperwork Necessary to Apply for a PAN Card
The following paperwork must be submitted in order to apply for an NRI's PAN card:
- evidence of identity (passport)
- evidence of address (overseas address proof or Indian address proof)
- evidence of birthdate (passport or any other valid document)
4. The PAN Card Application Process
NRIs can submit an offline or online PAN card application.
Let's go over both approaches in more depth.
5. Online PAN Card Application for NRI
By going to the NSDL (National Securities Depository Ltd) website, NRIs can apply online for a PAN card.
The following are the steps for applying for a PAN card online:
- Click the "New PAN" button while you are on the NSDL website.
- Choose the "Person" category, then the "Non-Resident" radio button.
- Provide all required information, such as your name, address, and phone number.
- Submit the relevant documents' scanned copies.
- Online fee payment is accepted.
- Send in your application.
- When the application is successfully submitted, a receipt acknowledging receipt with a 15-digit special number is generated.
6. Offline PAN Card Application for NRI
By delivering the Form 49A (for people) or Form 49AA (for NRIs) to any NSDL TIN facilitation centre or PAN centre, NRIs can easily apply for a PAN card offline.
The following are the processes to apply for a PAN card offline:
- You can get the Form 49AA from any PAN centre or TIN facilitation centre, or you can download it from the NSDL website.
- Provide all required information, such as your name, address, and phone number.
- Provide the necessary paperwork and passport-size photos.
- Send the form, along with the necessary fees, to any NSDL PAN or TIN facilitation centre.
7. Fees for NRI PAN Card Applications
The following payments must be paid when an NRI applies for a PAN card:
- Rupees 110 (including Tax and costs for physical PAN card) (including GST and fees for physical PAN card)
- Rs. 1,120 for applications made offline (including GST and fees for physical PAN card)
8. How long it takes to get a PAN card for an NRI
An NRI typically needs to wait 15 to 20 days from the date of application to acquire a PAN card.
The foreign address listed in the application receives the physical PAN card.
9. What Should I Do If I Get Rejected or Corrected?
If the PAN card application is denied, the applicant may reapply after correcting the mistakes or including further supporting documentation.
The applicant can submit an application for a correction by filling out the necessary form on the NSDL website in the event that the PAN card information needs to be changed.
10. Benefits of Having an NRI PAN Card
For NRIs, having a PAN card has various benefits, including:
- The process of creating a bank account in India is simple and easy.
- Simple and speedy money transfers to India.
- Investment in India is simple and hassle-free.
- In India, filing income tax returns is simple and easy.
- India real estate purchases are simple and hassle-free.
A PAN card application for an NRI can be made online or in person, and the process is simple. One benefit of having a PAN card is that it makes financial transactions in India simple and hassle-free.
To avoid any delays or rejections, NRIs should make sure they have all the required paperwork and properly follow the application process.
FAQs
Is a PAN card a need for an NRI?
No, a PAN card is not a need for an NRI. In India, having one is advised for a variety of financial operations.
Can an NRI apply online for a PAN card?
Yes, NRIs can use the NSDL website to submit an online PAN card application.
What paperwork must an NRI submit in order to apply for a PAN card?
Documents proving identification, address, and date of birth are needed in order to apply for an NRI's PAN card.
What are the costs involved in getting a PAN card as an NRI?
The cost to apply for a PAN card as an NRI is Rs 110 (for online applications) and Rs 1,120 (for paper applications) (for offline application).
How long does it take for an NRI to get a PAN card?
An NRI must typically wait 15 to 20 days from the date of application before receiving a PAN card.
