HOW CAN AN NRI APPLY FOR A PAN CARD?

Every Indian taxpayer must have a PAN (Permanent Account Number) in order to file income tax return. Issued by the Indian Tax Department, PAN is a unique alphanumeric identification required for tax related transactions, to open a bank account, get a financial credit, foreign travel, purchase or sale of immovable property. Under your name and identity, you cannot hold more than one PAN card.

A PAN card for NRI individuals, on the other hand, is not mandatory unless and until he/she has a source of income in India. This income can be in any form including property rent, mutual fund returns, dividends from shares etc. That being said, it is good to get one and keep it handy for the future since the process of PAN card application for NRI individuals is very easy. Just make sure you keep all your documents required for the PAN card in one place at the time of application. After submitting the documents and making the payment, an acknowledgment number is provided which will help you to check your PAN application status.

Is it possible to get a PAN card for NRI without an Aadhaar card?

That is correct. Aadhar card is not required to apply for a PAN card for NRI individuals.

Need of PAN Card for NRI Individuals:

A PAN card serves a number of useful purposes. These include:

• Having a PAN card makes the process of tax filing simpler.

• It is required if you want to open a Demat account.

• You need it to trade in shares and make any mutual fund investment.

• If you want to purchase a property or vehicle in the country, you will need a PAN card.

• A PAN card is needed if you are applying for foreign remittance.

• You must have a PAN card if you want to apply for a loan.

• It is required if you want to deposit an amount that crosses a certain limit.

• The KYC procedure in banks gets easier for you.

What are the documents required for the PAN card?

When an NRI submits a PAN card application, he/she will have to submit proof of identity, an address proof, a proof of date of birth along with two recent passport-sized photographs. Mentioned below are the accepted NRI PAN card documents: 

• A copy of the passport

• A copy of PIO or OCI card

• An overseas address proof

• A copy of overseas bank statement

How to Apply Online for an NRI PAN Card?

Applying for a PAN card for NRI individuals has become an effortless process. Nowadays, you can submit a PAN card application for NRI individuals online. Here are the steps you need to follow:

• To get started, you have to go to the official website of TIN-NSDL or UTIITSL. Click on the ‘Online PAN Application’ from the homepage.

• Now, fill out the NRI PAN application form. NRIs who are Indian citizens have to fill out Form 49A and NRIs who have another country’s citizenship have to fill out Form 49AA.

• Select the type of applicant from the drop down menu at the bottom of this page.

• The form will open in a new tab. Fill in your details and upload the documents.

• After completing the form, you will see an option to review the information.

• Once the information is reviewed, click on ‘Submit’.

• Now you can pay the processing fee online using debit/credit card or Net banking. If you do not want to make an online payment, there is also the option to pay by cheque/DD from an Indian bank.

• If the communication address you mentioned on the form is within India then you have to pay Rs. 107 and if you’ve mentioned a foreign address then the fee amount is Rs. 989.

• Once you make the payment, you will be given an acknowledgment number. Using this, you can check your PAN application status.

• You can also check your PAN card status by name. Make sure you are using the name mentioned on your application form. The official NSDL website allows you to check the PAN card status by name, date of birth and contact number.

• Take a print of this acknowledgment receipt.

• In the provided space, paste 2 recent passport size photographs.

• And then there is a box provided for signatures. Either sign using black ink or put your left thumb impressions.

• Now attach all the necessary documents along with your application and send it to NSDL.

It takes about 15-20 days after completing the payment successfully to get the PAN card delivered to your address.

Planning to apply for PAN CARD online? At Muthoot Finance, we provide a fast and hassle-free application process for PAN Card at 5330+ branches. Visit your nearest Muthoot Finance branch to know more.