Do NRIs really need a Pan Card?

 

Do NRIs really need a Pan Card?

Many NRI readers of this blog ask me this question. In fact, this is one of the most commonest query that the NRI readers of MJ2BC ask me.

Well, the simple and straight forward answer is – Yes.

If you want to invest in Indian capital market than PAN Card is a MUST.

The next obvious question is,

Is there a way you can get a PAN card without going to India? What procedures you should follow to obtain a PAN?

Well, a PAN Card is the card like above having a 10 digit alphanumeric number, your name, date of birth, photograph, signature and the hologram if the IT Department.

And yes, you don’t need to visit India at all to apply for a PAN Card. All you need is the computer connection and your passport to apply for the PAN Card.

Documents required to get a PAN Card Online

- Copy of Passport (Showing your overseas residential proof)

- Photograph

- Bank draft in the amount of Rupees 744 payable atMumbai to ‘N S D L PAN’

Click Here to Apply for PAN Card Online

- Now, go to the bottom of the page and click on “APPLY FOR A NEW PAN CARD”.

- Form 49A (The application for PAN Card) will be opened.

- Fill in the form. Read Guidelines on filling form and Instructions on filling form if you wish. When filling in the address make sure it is the same overseas address that is shown on your bank statement.
- Do not fill an Indian address.
- Once the form is filled, review it to ensure everything is correctly filled and click submit.
- An acknowledgement will appear on the screen if form was submitted correctly.
- Print out at least two copies of the acknowledgement. (One copy is for your record)
- Paste your photo on one of the printouts of acknowledgement and sign in black ink.
- Sign on all pagers of the photocopies of your passport and your bank statement.
(Black pages of passport are not required to be copied)

- Mail all documents to NSDL, PAN unit at Mumbai.
12. You can track the status of your application by using your acknowledgement number.