NRI PAN Card

Things don’t work without a PAN card. Do they? You may be a Non-Resident Indian excelling in your career and living well on the other side of the globe, but what if you wish to invest in mutual funds, stocks or real estate in your own country? It calls for a PAN card. It is required that NRIs have a PAN card to carry out any investment or receive rent in India. 

Let’s walk through this section and understand the procedure of getting a PAN card for NRIs. 

What is an NRI PAN Card?

A PAN card or a Permanent Account Number card is an alphanumeric identifier composed of ten characters. An NRI can apply for a PAN card on the official website of UTIITSL or NSDL by making payment of certain fees. The Income Tax Department of India issues this card, and an individual can only have one PAN card.

Why do NRIs need a Pan Card in India?

There are many reasons why an NRI needs to carry a PAN card. Here is why an NRI needs to have a PAN card:-

• They want to trade in shares.
• They want to invest in mutual funds.
• They earn a taxable income in the country (renting out a property, receiving dividends through shares, returns on mutual funds, or carrying out a business).
• They want to purchase a property.

If you are an NRI and meet any of the scenarios mentioned above, then you will need a PAN card to carry out the same. Even if this is not your case, it is still helpful to have this card to practice any such activity in India in the future. 

Note: Know that you can only have one card.

Benefits of PAN Card for NRIs

Here are the benefits of an NRI PAN card

• A PAN card is required if an NRI draws a taxable income in India.
• NRIs must have a PAN card to commence investment in mutual funds or securities.
• A PAN card is also necessary to purchase property/vehicles in India.
• If an NRI wants to deposit an amount over a certain limit, they will need a PAN card.
• PAN is useful in simplifying the KYC procedure in banks and NBFCs.

Step-By-Step Process to Apply for an NRI PAN Card

The relief is that you don’t have to watch your time getting consumed in PAN card applications for NRIs. Thanks to the Income Tax Department for quite a simple, streamlined and fuss-free PAN application procedure which helps you save time and get the work done easily.

You have to follow these hassle-free steps to apply for a PAN as an NRI-

Step 1- Visit the official website of TIN-NSDL to get started with the application process.

Step 2- Hover over the services option. And select the PAN services option from there.

Step 3 – Click on the “Apply Online” option.

Step 4 – Under the heading – “Application for allotment of New PAN (Form 49AA) – applicable for foreign citizens.”

Step 5 – You will be directed to a new page. You have to select application type, category, and basic information. 

Step 6 – Enter the captcha and hit the “Submit” option.

Step 7 – A new tab displaying the NRI PAN card application form will open. Make sure that every entry you fill is correct and appropriate.

Step 8 – On the next page, you will have to make payment to complete the transaction and form filling process.

Documents Needed to Apply for NRI PAN Card

To complete your NRI PAN application, you have to perform a straightforward process which includes presenting a set of documents. 

Mentioned below is the list of the required documents for an NRI PAN card:-

• Two passport-sized photographs (latest)
• A copy of your passport
• A copy of the PIO or OCI card
• Proof of your overseas address 
• A copy of your bank statement (overseas)

NRI PAN Card Fees

Know that the PAN card fees vary based on your communication address mentioned in the PAN card application form. Here are the applicable fees for PAN cards:-

• A registration fee of Rs. 110 plus GST is charged when your communication address is in India.
• NRI PAN card registration fee is Rs. 1020 if the communication address is abroad. 

PAN Card Fee Payment for NRIs

If the communication address you have provided in the form is in India, you have to pay a registration fee of Rs. 110. You can pay this fee through your debit card, credit card, demand draft or net banking.

The registration fee is Rs. 1,020 if the communication address you mentioned is abroad. You can pay it with your debit card, credit card or demand draft. Ensure that the payment is drawn in the name of NSDL-PAN if you opt for the demand draft option. It will be payable at the Mumbai office.

PAN Card for Foreign Citizens

If you are a foreign citizen and wish to apply for a PAN card in India, you will have to fill out a form. You can navigate to the official TIN-NSDL website to fill out form 49AA. Individuals with foreign nationalities, PIOs and OCI holders must use this form to get a PAN Card. Whether you are an NRI or a foreign applicant, you will need to input your residential address in both cases. You will have to mention your communication in the form.

Is PAN Card Mandatory for NRIs?

An NRI doesn’t need to have a PAN card. However, those who own a stream of income in India have to have this document used while filing taxes. The income may be rent, dividends from shares, returns from mutual funds, etc. NRIs who have no source of income in the country do not need to have a PAN. However, an NRI should apply for a PAN card to be handy while performing any purposes in the future. 

How Long Does it Take to Receive an NRI PAN Card?

It generally takes 15 to 21 days to receive the PAN card. You get it within 21 days after applying for the card and making the payment. The PAN for NRIs is delivered to the communication address mentioned by the individual.

How to Track the Status of PAN Card for NRIs?

1. Go to the official website of TIN NSDL.
2. Now under the drop-down menu of Services, select the PAN option.
3. You have to click the “Know Status of Your Application” option.
4. A new page will open. You have to either enter your acknowledgement number or transaction number.
5. Enter your surname, middle and first name as asked.
6. Enter the date of birth or incorporation date of the firm.

Now you will be able to view the status of your application. 

Important Points to Keep in Mind When Applying for a PAN Card

Wait, read on the below-mentioned do’s and don’ts of applying for a PAN card before moving to the application page, and you will save yourself from trouble. 

Do’s of Applying for a PAN card

• Go through your PAN card application carefully and ensure all the details are correctly furnished.
• Write details in block letters and use only black ink.
• Provide the right AO code.
• Recheck your proof of address and ID proof and make sure they are correct.
• The signature should be in the box.
• Make sure that your proof of identity details are the same as your proof of address. Don’t forget to check your name.
• In the case of an applicant who is a minor, the identity proof and the proof of address will have to be presented by their legal representative.

Don’ts of Applying for a PAN card

• Do not launch corrections in your PAN card application form or make it go overwritten. 
• Don’t be in a hurry. Be extra careful while furnishing details.
• Do not staple or pin your photograph to the form. Use the right adhesive to stick your photograph to the application form.
• Do not mention the date or the place underneath your signature.
• Do not mention your spouse’s name in the ‘Name of the Father’ column.
• Last but not least, do not apply for another PAN card if you already have one.

Final Thoughts

Individuals must have a PAN card as this document plays an essential role in income tax filing and investments in India. Even if you wish to open an NRO or NRE account, you will be asked to provide your PAN card. Know that there is no hand-wringing in the procedure of PAN for NRIs. You can ensure a fast process by keeping all the necessary documents and information handy.

Frequently Asked Questions (FAQ)