Ella Walter
Non-resident Indians (NRIs) and foreign citizens can obtain a Permanent Account Number (PAN) from India with a minimum of documents. The PAN is a 10-digit alphanumeric code assigned by the Central Board of Direct Taxes through the Income Tax Department of India and is unique to each taxpayer. It is required for most financial transactions in India, including opening a bank account, investing in mutual funds, and buying or selling property. To apply for a PAN card, applicants must submit the required documents, fill out the application form, and pay a processing fee, which varies depending on whether their address is in India or abroad.
| Characteristics | Values |
|---|---|
| Who can get a PAN account in India? | Non-Resident Indians (NRI), Foreign Nationals, & Foreign Companies |
| What is a PAN account? | Permanent Account Number (PAN) is a unique number allotted by the Income Tax Department of India |
| What is PAN used for? | PAN is used for financial transactions, opening bank accounts, investing in mutual funds, buying or selling property, filing tax returns, etc. |
| What documents are required for a PAN application? | Two recent passport-sized photographs, a copy of the passport, address proof, proof of identity, Person of Indian Origin (PIO) card or Overseas Citizen of India (OCI) card (if applicable), etc. |
| How to apply for a PAN card? | Online or offline. Online applications can be made through the websites of UTI Infrastructure Technology And Services Limited (UTIITSL) or Protean (formerly NSDL e-Governance Infrastructure Limited). |
| How much does it cost? | Rs. 107 for an address in India and Rs. 989 for an address outside India |
| How long does it take? | Generally, it takes 15 to 20 days after submitting the application and documents |
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What You'll Learn
Required documents for non-resident Indians (NRIs)
To apply for a PAN card as a non-resident Indian (NRI), you must be an Indian citizen and have a valid Indian passport. You will need to submit photocopies of the following documents:
- Your Indian passport, which must be valid at the time of application.
- Proof of address.
An Aadhaar card is not required for NRIs applying for a PAN card.
If you are a foreign citizen or Overseas Citizen of India (OCI) applying for a PAN card, you will need a valid Indian visa or OCI card. In this case, you do not need to obtain a notary or apostille.
Companies and business firms registered outside India can obtain a PAN number by submitting a copy of their certificate of formation and address proof. A foreign company does not need to have a local presence in India to obtain a PAN number.
You can apply for a PAN card online through the NSDL e-Governance portal or the Income Tax Department of India. The PAN card is available in digital format or as a laminated tamper-proof physical card.
Please note that PAN cards are not issued at Indian consulates.
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Online vs offline application process
Non-resident Indians (NRIs) can apply for a PAN card online or offline. The online process is considered hassle-free and involves the following steps:
- Filling out an online application form
- Uploading the required documents
- Making the payment of the application fee
- Sending the copies of the required documents by post to either NSDL or UTIITSL for verification purposes
The online application can be made on the Income Tax portal using Aadhaar, the NSDL website, or the UTIITSL website. The application fee for the online process varies from Rs. 66 to Rs. 1,017.
On the other hand, the offline application process for a PAN card involves downloading and filling out Form 49A or Form 49AA from the NSDL or UTIITSL website. The form and the required documents then need to be submitted to the nearest PAN centre. The applicant will receive an acknowledgement slip with a number that can be used to track the status of their application.
The documents required for both processes include proof of identity, proof of address, and proof of date of birth. NRIs can submit a copy of their Indian passport along with proof of address. Additionally, applicants with a valid Indian visa or OCI card are not required to obtain a notary or apostille.
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Processing fees for NRIs
The processing fees for NRIs applying for a PAN card vary depending on the address provided in the application. The base fee for applying for a PAN card for NRIs is slightly higher than that for resident Indians.
If the applicant's communication address is within India, the fee is Rs. 107, GST included. However, if the communication or delivery address is outside India, the fee is Rs. 1,017. This higher fee includes dispatch charges for sending the physical PAN card overseas.
NRIs can opt for an e-PAN, which is a digitally signed PAN card sent via email and is considered as valid as a physical PAN card. The cost of an e-PAN is Rs. 994, which includes the application cost.
The mode of payment for the processing fees can be made through various methods, including credit card, debit card, demand draft, net banking, or UPI. It is important to note that additional charges may apply when paying via credit card.
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Time taken to obtain a PAN card
The time taken to obtain a PAN card varies depending on the method of application and the applicant's location. Here is an outline of the process and the typical timeframe:
Application Methods:
- Online Application: Non-resident Indians (NRIs) and foreign citizens can apply for a PAN card online through the NSDL e-Governance portal or the UTITSL website. The online application process typically involves filling out Form 49A (for NRIs) or Form 49AA (for foreign citizens), submitting the required documents, and following the guidelines. The online application is often the fastest and most convenient method for overseas applicants.
- In-Person Application: Applicants can also choose to submit their applications in person at a PAN Card Application Centre in India. They can download the application form (Form 49A or Form 49AA) online, fill it out, and submit it along with the necessary documents at the centre. This option may be more feasible for those already present in India or those who prefer a physical submission.
Processing Time:
The time taken to obtain a PAN card can vary depending on the application method and the accuracy of the submitted documents. Here are some estimates:
- Online applications are generally processed faster, and applicants can expect to receive their e-PAN (electronic PAN card) via email within a few days to a few weeks. The physical PAN card may take longer to arrive at the overseas address.
- In-person applications may take longer, especially if there are errors or discrepancies in the submitted documents. The processing time can range from a few weeks to a few months, depending on the volume of applications and the efficiency of the centre.
It is important to note that the success rate for foreign applicants is higher when they are represented by an agent who can submit the application in person and liaise with PAN officials during the processing stage. This can help expedite the process and reduce the uncertainty associated with overseas applications.
Additionally, the issuance fee for a PAN card may differ depending on whether the applicant is applying from within India or abroad. Applicants should refer to the official websites of NSDL, UTITSL, or the Income Tax Department of India for the most up-to-date information on processing times and fees.
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Uses of a PAN card
A PAN card is a Permanent Account Number with a 10-digit alphanumeric identifier, issued by the Income Tax Department of India. It is a crucial piece of identification for all taxpayers in the country and is used for a variety of financial transactions. The PAN card is essential for both Indian citizens and Non-Resident Indians (NRIs) alike, offering several advantages. Here are some detailed uses of a PAN card:
Income Tax Returns
The primary use of a PAN card is for filing income tax returns. It is necessary for all individuals and entities eligible for income tax to file their IT returns using a PAN card. The card helps link all financial transactions, making it easier for the tax department to accurately track income and assess tax liability. This, in turn, helps curb tax evasion and ensures fair taxation practices.
Banking Transactions
A PAN card is required for various banking procedures, including opening a new bank account, whether it is a savings or current account. It is also needed for applying for a credit or debit card and for conducting transactions above a certain limit. Banks in India require PAN details for Know Your Customer (KYC) verification, ensuring the account holder's identity is authenticated.
Foreign Exchange and Remittances
For Indians travelling abroad or sending/receiving money internationally, a PAN card is crucial. When converting Indian currency into foreign currency, individuals are required to provide their PAN details. Similarly, for foreign remittances, the Reserve Bank of India (RBI) mandates the use of a PAN card to maintain transparency and track taxable transactions.
Property Transactions
Buying, selling, or renting property in India requires a PAN card. The PAN details of both the buyer and seller must be listed on the sales deed and other relevant documentation. Additionally, a PAN card is necessary for purchasing or selling vehicles (except two-wheelers) and making investments such as fixed deposits, purchasing mutual funds, or investing in stocks/shares.
Loans and Credit
When applying for a loan or credit card, individuals must submit their PAN card details to the bank or lending institution. This allows the financial institution to identify the individual or entity involved and ensure proper tax deductions, if applicable.
In summary, a PAN card is an essential tool for financial transactions and tax-related purposes in India. It serves as a unique identifier, facilitating transparency and compliance in the country's economic and taxation systems.
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Frequently asked questions
A PAN account, or Permanent Account Number, is a 10-digit alphanumeric code assigned by the Central Board of Direct Taxes through the Income Tax Department of India. It is used as identity proof for individuals covered by the Indian Income Tax Act of 1961.
Non-resident Indians (NRIs) can apply for a PAN account in India by submitting an application form along with the required documents. This can be done online or offline. The documents required include two recent passport-sized photographs, a copy of the applicant's passport, and proof of address.
A PAN account is mandatory for various financial and economic activities in India. It is required for opening bank accounts, investing in mutual funds, buying or selling property, receiving a salary, and conducting other high-value financial transactions.
