Everything You Want To Know About Pan Card For NRI's - PowerPoint PPT Presentation

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Everything You Want To Know About Pan Card For NRI's

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Title: Everything You Want To Know About Pan Card For NRI's


1
Everything you want to know about PAN Card
for NRIs
2
For lakhs of Non-resident Indians (NRIs) living
in the United Kingdom, India is one of the major
investment destinations. Investors from the NRI
community, who are financially aware, know that
it is important to have a Permanent Account
Number (PAN) for engaging in any kind of
high-value transaction in the country. The Income
Tax Department is a government agency which
issues pan card for nri and resident Indians as
well as companies.
The Purpose of having a PAN card A copy of the
PAN card, which mentions a 10-digit alphanumeric
number, serves as a unique identify proof and
must be furnished when an existing or prospective
NRI investor wants to do the following
3
  • Availing banking services pan number for nri is
    required if he or she wants to open an NRI bank
    account, NRO account or NRE account, and avail
    loans.
  • Investment An NRI who has a taxable income or
    who wants to engage in share trading or invest in
    mutual funds or immovable properties should have
    a valid PAN card.
  • Apply for visa or passport Applying for a visa
    or a passport as well as securing foreign
    remittance is possible if NRIs have a valid PAN
    card.

4
The process to apply for a PAN card The process
of getting a pan number for NRI starts with
filling an application form. There are two types
of forms namely the Form 49A which is used by
Indian citizens, and Form 49AA which is used by
NRIs and individuals who are not Indian citizens.
Nowadays, the manual process involving a visit to
the I-T office and submitting the forms has been
replaced by a fast and efficient online
application procedure to get a pan card for NRI.
A processing fee must also be paid online along
with submission of documents for verification
such as photographs, citizenship identification
number, passport copy or copy of PIO card, etc.
The Permanent Account Number is issued within
five working days by the I-T Department and the
new PAN card is dispatched to the applicant
within two weeks.
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