5 Eagle Court
Harrow HA2 0FZ
401, 4th Floor,
The Affaires Building,
Opp Palm Beach Road,
Sector 17, Plot No. 9,
Sanpada,Navi Mumbai - 400705,
We cater to a diverse set of customers spread across the globe by offering NRI Services tailored to their needs. We take pride in delivering a world class experience for our esteemed customers who wants to connect with India. There are numerous investment opportunities in India today and we want to help our customers to capitalise on them, be it mutual funds, bank deposits, real estate or life insurance.
To invest in all these asset classes it’s now mandatory to have NRI PAN Card and to make things easier, one needs PIO or OCI card as well. Not only we can get them delivered at your doorstep, we can also facilitate your income tax return and application for company formation in India.
You can now apply your NRI PAN Card from Abroad. Whether it’s a NRI Pan card or company pan card, we will take care of everything from making your rupee demand draft, sending documents to India and getting documents apostille if required.
In the past, PAN card was only required for filling tax returns. Over the years, the importance of Pan card has significantly grown and it has become an essential proof of Identity in India. In the beginning the use of PAN card was limited to opening a bank account, trading in the Indian stock market and buying or selling of properties. With the span of time, the use of PAN card has spread into unconventional areas such as paying a hotel bill, making an application for telephone connection, signing a rental agreement to making a high value purchase at a jewellery shop.
From the point of view of Non Resident Indians, PIOs and OCIs, these areas are not on the priority when it comes to applying for a NRI Pan card. Most of the NRIs/PIOs/OCIs have bank accounts in India and their banks have asked them to furnish their pan card number for various reasons. We come across various customers who don’t even know what pan card is and why they need one?
First let’s understand what is a Pan Card?
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” or “company” who applies for it or to whom the department allots the number without an application.
Why your bank is asking to furnish a PAN card number?
Section 139A (5B) of the Indian income tax act requires banks in India to mandatorily quote the permanent account number (PAN) in the TDS certificate.
Central Board of Direct tax has sent a circular on May 13, 2011, stating that from the financial year 2011-2012, all Forms 16A will be generated online and address of delivery will be captured on the address on your PAN card application form. If you don’t have a PAN Card, it could result in the following:
1. Non receipt of Form 16A
2. Non Issuance of Form 16A
Also, with the introduction of Section 206AA (w.e.f 1st April 2010), In case if any person is not holding the PAN Card, the rate at which the Tax be deducted shall be higher of 20% or Rate of TDS actually to be deducted i.e. 10% (DTAA rate for Interest Income in certain countries) or 15% (certain Short Term Capital Gains) or 30% (other Incomes) etc.
Is there any other benefit of having a NRI Pan Card?
If you are planning to repatriate funds from your NRI account to your local account in the UK/US or you have inherited some assets on which you need to pay tax, you are required to quote your pan card number. This Pan Card number will be furnished on the 15cb/15ca form issued by a charted accountant in India.
Also check out our FAQ on NRI Pan card to clarify your doubts.
Apply your NRI Pan card in simple three steps, without any hassle of getting a rupee draft or sending documents to India and we will take care of everything for you.
Need further informaion:
To know more about our services, please conatct us or fill in the Contact Form. We'll be pleased to provide you with more details about our services.