PAN card for NRI/OCB

Description

Reasons Why an NRI Needs a PAN Card:

An NRI must possess a PAN card under the following circumstances:

1. If an NRI earns taxable income in India.
2. If an NRI intends to engage in share trading, either through a depository or broker.
3. If an NRI plans to invest in Mutual Funds.
4. If an NRI wishes to acquire land or any other property in India for purposes other than trading.

Benefits of Having an NRI PAN Card:

By obtaining a PAN card, NRIs can access the following advantages:

1. Simplified KYC procedures in most banks upon PAN possession.
2. Ability to deposit funds beyond a certain threshold in their accounts with a PAN card.
3. NRIs can participate in mutual fund investments, facilitating their long-term financial planning.
4. A PAN card is essential for NRIs intending to purchase property in India.

When applying for a new PAN (Permanent Account Number) as an NRI (Non-Resident Indian), you typically need the following documents:

1. Proof of Identity:
   • Copy of your valid passport showing your name, date of birth, and photograph. This is the primary document for proof of identity.
2. Proof of Address:
   • Copy of any of the following documents showing your overseas residential address: utility bill (electricity, water, gas), bank statement, or rental agreement.
3. Proof of Date of Birth:
   • Copy of any document showing your date of birth. This can be your passport, birth certificate, or any other official document containing your date of birth.
4. Photograph:
   • Recent passport-sized photograph of the applicant. The photograph should be clear and have a white background.
5. Proof of NRI Status:
   • Proof of Non-Resident Indian (NRI) status, such as a valid visa or work permit from your country of residence.
6. Foreign Address Proof:
   • A document issued in the country of your residence confirming your overseas address. This is separate from the proof of address mentioned earlier, which is for Indian addresses.
7. Additional Documents:
   • Depending on the specific requirements of the PAN application process, additional documents may be requested.

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