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Friday, January 15, 2010

Is it Necessary for NRIs to have a PAN or the PAN Number?

PAN Card for NRIs
Permanent Account Number (PAN) refers to a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department in India. It is a must to have a PAN number for those who intend to do investments & file their income tax returns in India. It can be considered as a Indian Tax Number (Tax ID) and an ID proof.

PAN is mandatory as per the Indian Income Tax Department. With effect from April 1, 2006, SEBI has also made PAN compulsory for all investors wanting to invest in India. It is also compulsory to mention a PAN if one wants to carry any kind of financial or investment related transaction in India over Rs.49,999. [READ FULL STORY]

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