The purpose of PAN cards is to authenticate the individual if they would want to get any financial transactions carried out in the country that is regulated by the income tax authority of India. However, these transactions are of plenty, and each one them requires a PAN card that makes it easier for the regulating bodies to monitor ad have control.
Everything there is to know about PAN cards for NRI’s.
Apply new pan card online is quite simple and straightforward. But then, if NRI’s are looking into having some form of financial trade in the country but have no residency in the country, they too can apply for a new pan card.
Pan cards aren’t mandatory for Indian citizens, but it’s compulsory for any person from around the world that are looking to have any financial transaction in the country. Well, some specific rules and regulations are imposed on foreign nationals, which are to be followed carefully.
Before an NRI tries to carry out a financial transaction of any kind in the country, having a pan card along with a bank account opened in the country with he/she being the primary beneficiary is mandatory. Taking any services from any third-party provider for carrying out financial transactions regulated by the income tax of India could lead to severe consequences.
Hence, for those NRI’s that are looking to avail a new pan card. Then follow the steps given below to know more:
- Head onto the apply pan card online website, which happens to be the Income-tax website of Indi and download the 49A form from UTITSL and fill in the details as prompted on the form and the site. You can fill it online itself; the options are based on your will and wish.
- Also, note that the address should be from the country of origin and not the address of their house in India (if any).
- Once all the forms are submitted, then you will be given an acknowledgment form that needs to be printed.
- Get all the signatures along with your thumbprint or signature and seal from the designated gazette officer.
- You will then have to mail all the papers and documents to the required destination. You can check the status of your PAN card through the website of incometaxindia.gov.
Another thing to keep in mind is that the documents that one might require are as follows.
- Passport-sized photographs.
- Proof of address from the origin of the country that could be the passport or local bank which needs to be attested. Utility bills are also accepted.
Thus, PAN cards are necessary for any foreign individual that is looking forward to having a seamless financial endeavor in the country. One thing to note is that you can avail PAN cards through different agencies and can also download the forms and fill them personally and mail them. While the process might take more time, it’s a secure way through which you can have your PAN card.
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