What are the uses of a PAN Card for NRIs?

Today, Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) are spread across the globe. According to a report by the United Nations, India had the largest diaspora population in the world with 18 million people living outside India till 2020. A PAN (Permanent Account Number) Card is mandatory not only for resident Indians but also for NRIs who wish to invest in India or have any Indian income. Let’s understand the uses of a PAN card for NRIs and OCIs.

What are the uses of a PAN Card for NRIs?
PAN Card for NRIs

Benefits of PAN for NRIs

NRIs are required to have a PAN Card for the following purposes:

  • 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.

Also Read: Tax for NRI on Indian Income and Investments in 2020-21

Procedure for NRI PAN Card application 

 Here are the steps for the NRI PAN Card application online:

  • Visit the TIN NDSL website to apply for an NRI PAN Card Online.
  • NRIs holding Indian citizenship should fill the Form 49A available for Indian citizens. While NRIs who hold foreign citizenship, such as OCIs or people of Indian origin who have foreign citizenship and foreigners, need to fill up Form 49AA. 
  • The applicant will see a confirmation message on the screen after filling and submitting the form online.
  • All the information provided can be seen and verified straight away. One can edit the information, if required, else submit the application. 
  • After submission, the applicant will receive a 15-digit number acknowledgment receipt online. Take a print of the receipt. 
  • Attach 2 recent passport size photographs in the space provided in the acknowledgment.     
  • Put your signature using black ink or put your left thumb impression in the provided box. Make sure you sign in the provided box only, else your application may get rejected. 
  • Attach all the required documents with your application. You need to attach documents including ID proof like Aadhaar card, driving license, voter’s ID card, address proof, 2 colored photographs with black or white background, demand draft, etc. 
  • For address proof, documents include a copy of passport, bank account statement in the resident country, copy of NRE bank account statement that shows a minimum of 2 transactions in the past six months. 
  • The document should be duly attested.
  • You can track the status of your application using your acknowledgment number.
Know How to Obtain Aadhar, PAN and OCI Card

NRI PAN Card fee

PAN Card fee varies based on your communication address provided in the application. 

  • A registration fee of Rs. 110 + GST will be charged if your communication address is Indian.
  • NRI PAN card fee will be Rs. 1020 for registration if the communication address is abroad. 

Procedure of payment

  • Payment of a PAN card fee can be made through debit card, credit card, net banking, or by demand draft. 
  • If the communication address is of a foreign country, then the payment can be made only by credit/debit card or DD. 
  • Demand draft should be drawn in the favor of ‘NSDL-PAN’ payable at Mumbai. 

Note: Currently foreign credit cards are not accepted  

NSDL Address

All these documents and DD shall be mailed to NSDL at the following address:

Income Tax PAN Services Unit,
National Securities Depository Limited,
3rd floor, Sapphire Chambers,
Near Baner Telephone Exchange, Baner, Pune – 411045

Contact details of PAN card office

For any query related to a PAN card, you can contact the PAN office at the following address:

Telephone no.: 020-27218080
FAX: 020-27218081
Email: [email protected]

Is it mandatory for NRIs to update citizenship in PAN Card?

Things NRIs should keep in mind while filling an online application

Do’s

  • Make sure you fill the application in clear block letters using black ink. 
  • Put your signatures in the provided box only and not across the photograph. 
  • Provide the correct AO code.
  • Make sure you provide correct address proof and identity proof. 
  • Your NRI PAN card application form should have the same name as on address proof and identity proof. 
  • In case of a minor applicant, his/her representative is required to submit the address proof and identity proof. 

Don’ts

  • Be careful while providing your details; don’t overwrite or make corrections in the application form. 
  • Don’t fix the photograph using a stapler or pin. Instead use a proper adhesive to stick your photograph to the application form. 
  • Don’t write the date and place underneath your signature while signing the application form. 
  • Don’t mention your husband’s name in the ‘Name of the Father’ column. 
  • Don’t apply for a PAN card if you already have one. 

NRI PAN Card processing time

NRIs can expect the delivery of their PAN card within 15 to 20 days after submission of all documents and fees payment. The PAN card will be delivered to the communication address mentioned in the application form. Presently NSDL sends PAN cards by post to 105 countries. If you have provided an overseas address, you must check if the service is available in the country you are residing. 

PAN card for OCI and NRI is important if they have a source of income in India, especially for NRIs, to file income tax. Make sure the NSDL office receives the acknowledgment within 15 days from the date of filling in the online form. 

Top 10 Mistakes made by NRIs while filing ITR

PAN Card for NRIs: Get Expert Assistance

Due to the lack of resources or right information, NRIs may sometimes find it difficult to apply for a new PAN card or correct the information in the existing PAN. We at SBNRI, understand this struggle and are here to help you out with everything. You can get in touch with our expert directly on WhatsApp using the button below to resolve your doubts and queries. Also visit our blog and Youtube Channel for more details.

Ask SBNRI Expert Now

FAQs

What is the difference between an NRI PAN card and normal PAN card?

An NRI PAN card is the same as a PAN card issued to individuals living in India. However, to apply for a PAN card for OCI or people of Indian origin who hold foreign citizenship, an applicant is required to fill Form 49AA. 


Is a PAN card mandatory for NRIs?

PAN is not compulsory for all NRIs. PAN card is mandatory for NRIs who have a source of income in India to file their taxes or if they want to invest in stocks or mutual funds in India. 

How can I edit information on my PAN card?

The correction can be made on a PAN card offline as well as online through the TIN portal of NSDL. Here are the steps that you need to follow:
– Go to the TIN portal of NSDL https://www.tin-nsdl.com 
– Click on the ‘Services’ tab on the menu and click on PAN from the drop-down menu.
– Locate ‘Change/Correction in PAN Data’ on the redirected screen
– Click on the ‘Apply’ link
– You will be redirected to the page of ‘Online PAN Application’
– Select ‘Changes or Correction in existing PAN Data / Reprint of PAN Card’
– Fill in the application information
– Provide the required details and documents to complete the process

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