Attention: NRI, PIO & OCI.!!
Indian PAN Number made Compulsory

Permanent Account Number, popularly known as PAN, is a ten-digit alphanumeric unique identification code possessed in the form of a laminated card primarily by all tax payers. One may consider as a tax number or a tax id that is issued by the Income Tax Department of India.

"Please use the form on the right, to send us your PAN Questions"

Is TAX Number (PAN Number) now compulsory for NRIs?

It is now mandatory to quote a PAN on all major financial & investment related transactions in India, and this compulsion is required for Non Resident Indians including the PIOs.

Is it necessary to file taxes if you get a PAN Card?

Many feel that possessing a PAN implies paying taxes. This is a myth. To pay tax you compulsorily require PAN, nor vice-versa. PAN more than anything acts as an ID proof enabling you to check if you have filed your tax returns till date and under what number. However, one pays taxes only if he had accrued any income in India. It is always advised to file taxes on time even though the taxable income is 'zero', meaning you own zero taxes because it builds up ones credibility in the eye of the tax department and its considered good in long term.

Benefits of having a PAN Number:

• Acts as an ID proof showing your relation to India

• Filing tax returns

• Sale or purchase of immovable property worth INR 5,00,000/- and more. In case of co-owners PAN of both must be mentioned. If a nominee holds the property, the PAN of the legal owner has to be mentioned.

• Sale or purchase of motor vehicles requiring registration other than two-wheelers. The term ‘motor vehicles’ however does not include vehicles running on fixed rails or special vehicles used only in factories etc. or vehicles of less than four-wheels having engine capacity of maximum 25cc.

• Deposit of more than Rs.50, 000/- as a FD in bank or in the post office savings account. However PAN is not required in investing in Kisan Vikas Patra or post office National Savings Certificate.

• Contract of sale or purchase of securities worth more than Rs.1 lakh.

• Opening a bank account

• Application for installing telephones – land line and mobile

• Cash deposit of Rs.50, 000/- or more with any bank on any one day

• Cash payment of Rs.50, 000/- or more for purchasing bank drafts, pay orders or bankers cheques in any one day

• Cash payment of Rs.25, 000/- or more while traveling abroad

• Payment to hotels or restaurants for payment of bills amounting to Rs.25, 000/- or more at one time

• Payment of Rs.50, 000/- or more to a mutual fund for purchasing units or to a company for acquiring its shares

• Minor intending to open time deposit or bank account must quote the PAN of either the father or mother or guardian, as the case be in whose hands the income is going to be clubbed

• For NRI it facilitates trading in the Indian share market

How can NRIs & PIOs Apply for a PAN Card Online?

Applying for PAN is now the simplest thing to do thanks to technology. All you have to do is take up a pen and fill up Form 49A of the Income Tax Department, submitting the same to your nearest facilitation center. The form may be a photocopy or a download.

UTIISL and NSDL are the two authorized agencies to accept applications and begin with the job of processing. Generally your PAN Card would be delivered at your doorstep within 2-3 weeks. However in case you require the same urgently, you may apply for a TATKAL PAN paying the fee applicable online through your credit card. The fees payable for an Indian citizen is a total of Rs.67/- (Rs.60/- + service tax applicable at 12.24%) The fees for NRI are different.

A Private broker assisting NRIs to get PAN: www.PanCardNri.com



What to do incase of Lost/Misplaced PAN or any other Correction?

If you have lost your PAN card your must visit this link and apply for a duplicate: (Know More Here)

In case of any any kind of pan card corrections, like address change, name correction, signature mismatch, etc please visit this link below:
(Know More Here)