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Benefits of PAN card for NRIs and how to get it online

A PAN (Permanent Account Number) card is a unique 10 character code that is assigned to all tax paying entities in India.

Issued by the Income Tax Department, the card links all transactions that attract tax under a single source, making it convenient for the government to keep track of these.

A PAN card is necessary for filing Income Tax returns in the country, and all individuals and entities that pay tax, including foreigners are expected to have one.

Besides its primary use, a PAN card is also used as proof of identity and age for everything from booking tickets for a movie, investing in the stock market to applying for a passport.

Is it mandatory for NRIs to have PAN?

No, it is not mandatory for all NRIs to have PAN, but those who have a source of income in India need to have a PAN in order to file their taxes. This income could be in the form of rent, dividends from shares, returns from mutual funds, etc.

Other NRIs with no source of income in India need not have a PAN, although it is advisable to apply for a PAN and keep it handy for the future.

Benefits of PAN card for NRIs

A PAN is a critical identifier in the country, serving a number of useful purposes, as mentioned below.

Documents Required to Apply for NRI PAN Card

NRI applicants are required to submit the following documents when applying for a PAN card:

Procedure for NRIs to Apply for a PAN

The Income Tax Department has simplified and streamlined the entire PAN application process, ensuring that an eligible NRI doesn’t have to spend his/her valuable time running after it. A NRI can follow a few simple steps to apply for a PAN.

How to Apply for NRI PAN Card Online

Time taken for a NRI to Receive the PAN

It could take a NRI about 15-20 days to receive the PAN after he/she NRI has successfully paid the fee and submitted all documents. The PAN will be delivered to the communication address mentioned in the application.

If you have provided an overseas address, please check if the NSDL posts PAN cards to the country you reside in. At present, the NSDL send PAN cards by post to 99 countries.

Ensure the acknowledgement reaches the NSDL office within 15 days from the date of filling in the online form.

The fee for applying for an NRI PAN card is Rs. 107 for addresses in India. If the PAN is to be sent to an overseas address, the fee is Rs. 989.

Sources: Tax Information Network , UTI ISL , Bank Bazaar