Alankit

PAN Mandatory

Necessity & Documents

The Non Resident Indian (NRI) / Person of Indian Origin (PIOs) and Foreign Citizens are required to comply with the mandatory requirements of producing PAN Card in the following cases:

Opening a Demat Account
Application in IPO
Trading in Securities
Sale & Purchase of Immovable Property
Investment in Mutual Funds INR 50,000 and above
Purchase of Motor Vehicle
Foreign Travel
Time deposit exceeding INR 50,000 with a Bank of Post Office.
Cash deposit of INR 50,000 and above.
Cash payment exceeding Rs. 25,000 for travel to any foreign country.
Application for installation of telephone, including cellular telephone.
Payment to hotels and restaurants against bills exceeding Rs. 25,000 at any one time.

Now the Government of India has allowed to apply for PAN Card in Form 49A with overseas address of the applicant. Income Tax Department (ITD) has issued following fresh guidelines for this purpose :

Foreign address can be provided, no necessity of Indian address.
PAN card will be dispatched at Foreign address directly.
Complete address including State Name and Name of the Country should be clearly mentioned at part of address.
Proper ZIP code or PIN code, as applicable, should be provided.
Email ID/Tel No. must be provided.
If Representative Assess (RA) details are given then Indian address is must. It is compulsory to provided RA details for Minor/deceased/lunatic/idiot.
If RA's address is given then PAN Card will be dispatched at the RA's Address only, irrespective of the communication address.
If RA Details are provided POI/POA must be Attached with the application.

Status of the applicant	Individual			Other than Individual having no office of their own in India
Particular	Indian citizen who at the time of making application for PAN is located	Foreign citizen who at the time of making application for PAN is located
Particular	Outside India	In India	Outside India
Proof of Identity	Copy of passport	1. Copy of passport or 2. Copy of Person of Indian Origin (PIO) card issued by Government of India.	1. Copy of passport or 2.Copy of Person of Indian Origin (PIO) card issued by Government of India or 3. Copy of other national ID duly attested* by Indian Embassy/High Commission or Consulate in the country where applicant is located	1. Copy of registration in India or of approval granted to set up office in India by Indian Authorities or 2. Copy of registration certificate of their country duly attested* by Indian Embassy/ High Commission or Consulate in the country where applicant is located.
Proof of Address	1. Copy of passport or 2. Copy of Bank Account Statement in country of residence or 3. Copy of NRE Bank Account statement**	1. Copy of passport or 2. Copy of Person of Indian Origin (PIO) card issued by Government of India or 3. Copy of bank account statement in India or 4. Copy of certificate of residence in India or Residential permit issued by the State Police Authority or 5. Copy of Registration certificate issued by the Foreigner’s Registration Office showing Indian address or 6. Copy of NRE bank account statement or 7. Copy of Visa application to Indian authorities and Copy of Visa granted and Copy of appointment letter/contract from Indian Company and Certificate (in original) of Indian address issued by employer* Copy of PAN card for the PAN mentioned in the employer's certificate.	1. Copy of passport or 2. Copy of Person of Indian Origin (PIO) card issued by Government of India or 3. Copy of bank account statement in country of residence duly attested* by Indian Embassy/ High Commission or Consulate in the country where applicant is located or 4. Copy of NRE bank account statement** or 5. Copy of other national ID duly attested* by Indian Embassy/High Commission or Consulate in the country where applicant is located	1. Copy of registration in India or of approval granted to set up office in India by Indian Authorities or 2. Copy of registration certificate of their country duly attested* by Indian Embassy/ High Commission or Consulate in the country where applicant is located. or 3. Applicants mentioning address of ‘Indian tax consultant’ as “care of” address must also provide original power of attorney notarized / attested* by Indian Embassy/ High Commission or Consulate located in the country where applicant is located, which specifically mentions that ‘Indian tax consultant’ is authorized to accept notices from Income tax Department on behalf of the applicant.

* Documents certified by ‘Apostille’ in respect of countries which are signatories to the Hague Apostille Convention of 1961 are also accepted.
** Showing at least two customer induced transactions in last six months period and duly attested by Indian Embassy/Consular office/high commission or Apostille or by the manager of the bank in which the account is held. The applicant may be a joint holder.
*** The certificate should be on employer’s letterhead mentioning PAN of the employer. Copy of PAN Card should be obtained.

PAN is Compulsory : We help Foreign Passport Holders Too!

It is mandatory to quote PAN on return of income, in India according to the Income Tax Department of India. Also, as per the recent SEBI directive, effective from July 2, 2007, Permanent Account number (PAN) shall be the sole identification number for all participants transacting in the securities market, including mutual funds, irrespective of the amount of transaction.

Consequently, it is now mandatory for all existing as well as prospective investors (including all joint applicants/holders, guardians and non resident Indians) to furnish their pan card copy along with the original pan card while investing in mutual funds.

You can also apply for a duplicate or replacement pan card incase you have either lost or misplaced your old pan card. You would be issued a new card bearing the same old permanent account number. We can also help you with HUF PANs, Family pan cards, pan for minors, address or name change, signature mismatch, or any other correction.

A PAN has been made compulsory for every transaction with the Income Tax department. It is also mandatory for numerous other financial transactions such as opening of bank accounts, availing institutional financial credits, purchase of high-end consumer item, foreign travel, transaction of immovable properties, dealing in securities etc. A PAN card is a valuable means of photo identification accepted by all government and non-government institutions in the country.