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Answers ( 3 )
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PAN card or Permanent Account Number is a 10 digit code allotted by the Income Tax Department of India. It is mandatory to acquire a PAN Card to carry out financial transactions and file Income Tax. For resident Indians, the procedure to apply for a PAN card is easy but can OCI get PAN Card? Well, yes.
There are certain situations under which an OCI (Overseas Citizen of India) can acquire a PAN card. These scenarios are:
- If the non-resident Indian or Overseas Citizen of India is earning taxable income in India
- If they are trading in shares through depository or brokerage
- If they wish to invest in mutual funds
- If they want to purchase a property in India (for other than trading purposes)
To apply for a PAN card, OCI card holder will have to perform the following steps:
- Download and fill form 49AA from https://www.tin-nsdl.com/downloads/pan/download/Form_49AA.PDF or submit the application form online after carefully filing the details https://www.tin-nsdl.com/services/pan/form49AA.html
- A token number will appear on the screen, take note of it carefully. It will be sent on your registered email id as well.
- Make payment online. If you are requesting a PAN card on Indian address, the fee payable will be Rs. 110. If you want the card on a foreign address, the fee payable will be Rs. 1020
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Best answer
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I think you must already know that every person who earns money in India is granted a Permanent Account Number (PAN), which is a 10-digit alphanumeric number used to pay income taxes and qualify for government benefits. But if you are an OCI card holder and are wondering about OCI card holder PAN card, you must complete Form 49AA if you are an OCI (Overseas Citizenship of India) and want to apply for a PAN card. I will go through every aspect of the PAN card for OCI citizens in this answer.
Can OCI holder get PAN card?
Yes, if you are an OCI, you can apply for a PAN card by filling out the form 49AA, which may be accessed from the websites of UTIITSL (UTI Infrastructure and Technology Services Limited), Protean eGov Technologies Limited, or NSDL (National Securities Depository Limited) e-Governance.
PAN card application for OCI holders
In order to make it simpler for applicants to submit the PAN card application, Form 49AA comprises 17 sections and a number of subsections. The following actions must be taken to apply for PAN card for OCI holders.
- You must go to the websites of NSDL or UTIITSL if you wish to apply for a PAN Card online.
- Complete Form 49AA online, use the “Apply Now” tab.
- Fill all the required fields, and then press the “Submit” button.
- Double-check your information and press the Pay Now button.
- Once the payment has been received, you can download and print your pre-filled application form.
- After that, you may add your photo, sign, complete the required paperwork, and mail it to the address provided.
This is all you need to know about OCI card holder PAN card.
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I had a friend who was an OCI holder and was hesitant to apply for a PAN card, even though he had a source of income here in India. So, I explained to him that even though you live overseas, you will require a PAN to file tax returns if you have an income source in India. Real estate rentals, stock dividends, mutual fund returns, or a company in India are all possible sources of this income. If you intend to make any kind of investment in India, although you do not currently have a source of income there, it is still beneficial to possess a PAN card. I will explain to you all that I know about PAN card for OCI.
Can OCI apply for PAN card?
If you are a foreign national seeking to obtain a PAN card in India, you must first complete the form. You can fill out form 49AA by going to the TIN-NSDL website. Individuals with foreign nationalities, OCI holders, and PIOs must use this form to obtain a PAN Card.
If they do not have a residential address in India, you may supply the location where you are now staying. Otherwise, you must mention your residence address in both cases. Additionally, you must fill out the form with your communication address.
Things to note
- A legitimate foreign passport is required for application.
- PAN number will be sent to the applicant via email as a “digital PAN Card.”
- ITD will send a plastic PAN card via international registered mail.
- After payment of the price, we check the proof documents through email.
- The candidate must print the PDF, attach 2 photographs, sign, and deliver the documents via mail or courier after the documents have been confirmed.
Documents Required for PAN for OCI
- I.D. proof (select any 1 0f the below – only photocopies – don’t submit original): Genuine India Foreign Passport1 or Visa/E-Visa Name Page or Foreign Passport Notarized by Notary Public
- Address Proof (select 1 of the below; photocopies only): Driver’s licence or utility bill or bank account statement, or OCI address page
Processing Time for PAN for OCI
- PAN officials don’t start working until they receive signed documents in India.
- Typically, a PAN Number is assigned between 7 to 10 business days.
- The Income Tax Department of India will send the applicant an email containing their ePAN or digital PAN card after allocating a number.
- Use the PAN number you obtained by email for Indian banks or other suitable uses.
- One to two weeks following allocation, PAN officials transmit the tangible PAN Card by international speed post.
PAN card for OCI
- All international nationals are qualified to submit an online PAN Card application.
- PAN numbers are assigned at the sole discretion of the Income Tax Department of India (ITD). Using the aforementioned application, applicants from all over the world can get a PAN card. USA, England, Canada, Australia, Singapore, Malaysia, New Zealand, Germany, the Netherlands, and other nations are included in the list.
I hope now you know all about PAN card for OCI.
Read More:
How to Fill PAN Card form Online?
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