Vaibhav Mehta asked on 01/01/2023

How to change citizenship in Pan Card?

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SBNRI Team
answered on 14/07/2023

There are no direct provisions to change citizenship in a Pan Card as the PAN Card doesn’t display your citizenship. It is a document required to file taxes, carry out investments and do transactions in India whether you are a citizen, NRI or OCI.

 

To change the citizenship in a PAN card, you need to meet and notify your jurisdictional Assessing Officer. For NRIs, it not easy to meet the assessing officer. However, a competent authority like CA, CFA, etc. can meet or notify the jurisdictional assessing officer on your behalf. Hence, you can get in touch with a tax expert at SBNRI to change your citizenship in PAN card.  

 

How to change citizenship in a Pan Card?

 

However, you can get the details of your current PAN Card changed through NSDL. Therefore, NRIs and OCI can also apply for a PAN card as an Indian (NRI) and foreign citizen(OCI) and apply for changes/updates by following the process mentioned below.

 

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The process to do that is simple:

      • Visit NSDL online website
      • Apply for Change in Pan details
      • Submit the changes required
      • Opt for Pan Card delivery (over email or in Physical Form) and pay the fees. The fees for getting the Pan Card in Physical Form for the following address of communication are- (Indian): Rs.101/- (Overseas): Rs.1,011/- (For e-Pan Cards): Rs.66/-

For providing a proof to change the communication address to your overseas address, copies of the following documents are necessary:

      • Passport
      • OCI Card
      • Bank Account Statement in the country of residence
      • NRE Bank Account Statement in India
      • Residential Permit

Is PAN Card Mandatory for NRIs?

PAN card for NRIs is mandatory in various situations, including:

  1. When opening a Demat account.
  2. When purchasing a motor vehicle, except for two-wheelers.
  3. For payments exceeding Rs. 50,000 in a single day towards mutual funds, bonds, debentures, life insurance premiums, or cash deposits.
  4. When engaging in security transactions exce
  5. eding Rs. 1,00,000, excluding shares.
  6. During the sale or purchase of any immovable property valued at over Rs. 10,00,000.

Benefits of PAN Card for NRIs

Since it serves as a crucial Identity proof in India, there are several benefits of a PAN card for NRIs:

  • PAN card is mandatory if an NRI has taxable income in India.
  • NRIs need to have a PAN card to make an investment in securities or mutual funds.
  • If they wish to purchase property or vehicles in India.
  • A PAN card is also mandatory to deposit amounts over a certain limit.
  • PAN serves a useful purpose to simplify the KYC procedure in most banks.

Note: If you have a PAN Card and later become an NRI/OCI, it is advisable that you continue using the same PAN Card. Alternatively, its easier to just update your KYC in banks and for your investments. PAN Card is used while filing your tax returns. OCIs who have a source of income, bank accounts or invest in India and don’t have a PAN Card can apply for a new one as a foreign citizen.

How can NRIs Apply for PAN Card?

NRIs can apply for a PAN card online in two ways:

a. If you have your Aadhaar card, you can simply follow the given steps:

1. Go to the e-filing portal of IT department.

2. Under ‘quick links’, click on “Instant PAN through Aadhaar”.

3. Enter your Aadhaar details. Once done, they will get an OTP on the registered mobile number.

4. You can download the PAN card from the Income Tax website in PDF format.

b. If you do not have an Aadhaar card, you can apply for PAN card by submitting the Form No. 49A along with the necessary documents and allotted fees at the PAN application center of UTIITSL or Protean.

 

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