Is it Compulsory for Nri’s to get a Pan Card - Is your Pan Card Valid!

When it comes to pan cards, there are normally two main questions that Nri’s may have are: 1. If you have a Pan card, do you have to file a tax return in India. 2. Is it compulsory for NRIs to have a Pan card if visiting India

Requirement to file tax in India

Pan card is a requirement only if a person has income on which tax is payable in India. There must be millions of people in India who have Pan cards and have never filed taxes. There is no law in India that make it compulsory for everyone to file income tax returns.  Only those persons who have income that is over the tax free allowance allowed, is required to file tax returns. Hence, if you have taxable income in India, you should get a pan card and file a tax return in India. Many people get pan cards as they are normally required now to open bank accounts and is considered a form of identification in India.

Is Pan card compulsory for Nri’s visiting India

Pan card is not compulsory for Nri’s, PIO’s or Foreigners visiting India. While many Nri’s who now hold foreign passports do get pan cards, the same rules that apply to local Indian citizens, who reside in India, applies to Non-residents. Persons of Indian origin and foreigners visiting India may some times encounter a situation where they may be required to produce a Pan card. For instance when buying a motor car. When faced with such a situation, Non-residents can simply opt to fill in Form 60 which is an exemption from providing a Pan and can be used by those who do not have a Pan card because they are non-residents. A sample of Form 60 can be seen by clicking HERE More information on Pan Cards: Myths About PAN CARD  - Read now >>> How to confirm your Pan Card Validity - Check now >>>
What do the numbers on your PAN Card mean While the numbers on PAN cards are generated to create a unique number, there are some characteristics associated with the PAN numbers that a person can identify, by simply looking at the card. The fourth character of a PAN will be either the alphabet P, F, C, H, A or T. Where: ‘P’ stands for Individual ‘F’ stands for Firm; ‘C’ stands for Company, ‘H’ stands for HUF (Hindu Undivided Family) ‘A’ stands for AOP (Association of persons) ‘T’ stands for Trust etc. The fifth character of PAN represents first character of the PAN holder’s last name/surname.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
Custom Search
Search Nri Information
more info more info
Import Car to India - Customs Duties in India . . . Read now . . . How NRIs can register a car in India . . . Read now . . . Car Loans in India . . . 85% of car value available as car loan . . . Renting a Car in India guide  . . . Car rental prices in India . . .
N RI Articles of interest on Car Imports - Car Documents car more info more info
Information & Tips on dealing with various issues in India. From customs duty , visas, taxes, property & more
Free delivery with Amazon Prime
A Book for NRIs PIO & OCI
Paperback book or kindle
N RI Information

NRI - OCI - PIO Guide & Information

Custom Search
Search Nri Information
next previous

Is it Compulsory for Nri’s to get a

Pan Card

Is your Pan Card Valid!

When it comes to pan cards, there are normally two main questions that Nri’s may have are: 1. If you have a Pan card, do you have to file a tax return in India. 2. Is it compulsory for NRIs to have a Pan card if visiting India

Requirement to file tax in India

Pan card is a requirement only if a person has income on which tax is payable in India. There must be millions of people in India who have Pan cards and have never filed taxes. There is no law in India that make it compulsory for everyone to file income tax returns.  Only those persons who have income that is over the tax free allowance allowed, is required to file tax returns. Hence, if you have taxable income in India, you should get a pan card and file a tax return in India. Many people get pan cards as they are normally required now to open bank accounts and is considered a form of identification in India.

Is Pan card compulsory for Nri’s visiting

India

Pan card is not compulsory for Nri’s, PIO’s or Foreigners visiting India. While many Nri’s who now hold foreign passports do get pan cards, the same rules that apply to local Indian citizens, who reside in India, applies to Non-residents. Persons of Indian origin and foreigners visiting India may some times encounter a situation where they may be required to produce a Pan card. For instance when buying a motor car. When faced with such a situation, Non-residents can simply opt to fill in Form 60 which is an exemption from providing a Pan and can be used by those who do not have a Pan card because they are non-residents. A sample of Form 60 can be seen by clicking HERE More information on Pan Cards: Myths About PAN CARD  - Read now >>> How to confirm your Pan Card Validity - Check now >>>
What do the numbers on your PAN Card mean  While the numbers on PAN cards are generated to create a unique number, there are some characteristics associated with the PAN numbers that a person can identify, by simply looking at the card.   The fourth character of a PAN will be either the alphabet P, F, C, H, A or T.   Where:  P stands for Individual  F stands for Firm;  C stands for Company,  H stands for HUF (Hindu Undivided Family)  A stands for AOP (Association of persons)  T stands for Trust etc.  The fifth character of PAN represents first character of the PAN holders last name/surname.
N
RI Information
 Informing  educating and connecting Indians across the globe
next next previous previous
twitter  Follow us on
A Book for NRIs PIO & OCI Information at your fingertips!
Available worldwide from Amazon
the nri guide Information, tips & guide for non-resident Indians to help them understand and deal with several issues in India
Free delivery with Amazon Prime