BLOG​ POST #1

Everything You Need To Know About A PAN Card?

In this post we talk about a Indian PAN card for NRI, it's uses and the detailed application procedure to apply for one.

This article will help you with the procedure to apply for an Indian PAN card in the US. It will cover information on what is a PAN card, how to obtain a PAN card while being in the United States of America as a NRI, OCI, PIO, Foreign passport holder or US citizen. We shall also discuss about how to re-apply in case you have lost or damaged your old PAN card and the required documents for filling your pan application form as a non-resident living in the United States.


What is a Pan Card and why does it matter?

The PAN card is a ten-digit alphanumeric identifier that is issued by the Income Tax Department of India. It stands for Permanent Account Number. The PAN identifies the tax-payer in order to track his/her financial transactions and income earned in India.
The PAN card does not serve as an identity document, although it can be used to open bank accounts or obtain credit or debit cards.
PAN is mandatory for most transactions with the Indian government, including sale of property, opening bank account, getting a loan from a financial institution, etc. It has to be applied for through filling out a form and submitting required documents at a post office or online.
There are two kinds of PAN cards — one that is issued to Indian passport holders via form 49a and the other that is issued to foreign passport holders including oci and pio card holders via form 49aa.


How to Apply For A Indian Pan Card — as a NRI or US national?

In general there are two ways to apply for a Indian PAN card:

1. Apply with the help of an independent agency (Easy & Quick Way).
Pros: The process would be quick streamlined and very user friendly. They handle all your paperwork and follow-up with the government on your behalf and make sure that you successfully get your pan card in the USA as soon as possible.
Basically they handle your case from start to end for a little fee.
Cons: Could be a little expensive. Between $35 to $40. But they make the entire process simple and hassle free for US residents.
Example:⇒ www.PanCardNri.com/usa

2. Apply directly with the Indian government.
Pros: The process could be a little time-consuming and confusing, however the biggest benefit of applying directly with the government is the price factor. It will cost you around Rs.1050, which is approximately about 15 dollars (at the time of writing this article).
Cons: The process could be confusing, complex and hard to communicate and follow up with the government directly because of the time difference, when you are applying from abroad.

The 2 Govt agencies that you can apply directly with: 

A. https://www.pan.utiitsl.com/PAN/mainform.html
B. https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html
 
Firstly, you need to visit the Income Tax India website and download the form for the PAN card application. Fill in all your details in this form, upload a recent passport size photo and sign it. 

Secondly, make sure that you enclose all necessary documents like proof of address or photo identification if required, copies of voter ID or passport if required, PAN card application fee (in case you don’t have a PAN card). 

Lastly, send these documents to Income Tax Office in India for verification and processing. 


Documents required to apply for a Pan Card?

The document requirements for a Pan Card vary and depend on the type of applicant and the document.

There are two types of applicants- Individuals and Companies.

Individuals: The following documents are required to apply for a Pan card- Identity Proof, Address Proof (Not more than 12 months old), Proof of Date of Birth (not older than 3 years) and two Photographs (Not more than 3 years old). 

Companies: The documents required to apply for a pan card for companies are- Articles of Association, Memorandum & Articles of Association, Certificate of Incorporation, Certificate from ROC, Form 18 ID Certificate issued by RBI, Form 18 ID Insurance Certificate issued by RBI. 

In this article, we will learn a bit about the Pan Card. What is a Pan Card and what are the requirements for a pan card application?

All the above documents are required to ensure that you are a legal entity because a PAN card or Permanent Account Number is a document that proves your identity and acts as proof of address, at times. It is issued by the Indian Income Tax Department through two of it’s agencies: NSDL and UTI. It can be used as proof of identity in some occasions and to open bank accounts, apply for loans, or take out insurance policies, etc.


Steps involved to apply for a Indian pan card or a permanent account number. 

To reiterate, a PAN or Permanent Account Number is a ten-digit alphanumeric number that is allotted by the Indian Income Tax Department to all taxpayers for their tax records. It is needed to apply for a Indian pan card. 

The documents required for applying a PAN online from the US is very simple. 

You are required to collect the following documents in order to apply online:

1) A copy of your latest income tax return
2) Copy of your identity proof
3) Address proof
4) Proof of date of birth
5) Proof of date of commencement in India
6) Proof that you have resided in the country for 182 days during last 12 months
7) A copy of your bank statement or passbook
8)A copy if your driving license
9)A legalized document showing 


How Long Does it Take To Get A Pan Card?
 
The application for a Pan card is usually not that long. It is only a matter of 3 simple steps. The first step is to fill out the form with your personal details. The second step would be to upload your documents and the last step would be to pay the fees.
It usually takes about 30–45 days for the pan card to arrive at your doorstep. That being said, it can take up to 60 days if you are applying for a new passport or if you are applying for any changes in your existing card. 


What Happens If I Lose My Pan Card?
In the event of a loss, you can file a complaint with the nearest police station.
In case of a damage, you need to submit a copy of the original pan card and an affidavit explaining the cause.
If your card is lost or stolen, you need to go through the process of getting it replaced with an application for duplicate copy with the income tax department. 

To recap, a PAN card is a 10-digit unique identification number that is issued by the Income Tax Department of India. It is mandatory for all Indian citizens to have a pan card. And required for NRIs and foreign nationals to if they file taxes in India. 

What are the requirements for getting a pan card? 

A pan card is a very important document in India. It is necessary for filing taxes, opening a bank account, buying shares, purchasing real estate, making an investment, applying for a passport or driving license, and to carry any kind of financial or investment related transaction in India. 

What documents should I submit with my application?
You should submit a proof of identity and and a proof of address. 

How much does it cost to get a PAN card? 

The price of a pan card is roughly $15. This is the price for first time applicants and those that need to update their card based on a name change or change of nationality, directly from the Govt portal. However if you choose to go via a private agency then this fee could be between $35 to $40.
4) When can I expect my application to be processed and delivered? 

It takes about 7 days for the e-PAN card to reach your email and about 30 days via post to be delivered to your US address. 

Conclusion: Hope you like this article about the Indian PAN card and how residents of the United States can go about applying for it. Thank you so much for giving time to this article.