For non resident Indians across the globe . . .

27. Is Pan Card Mandatory in India

Questions:  Dear Sir, Your website is very informative but I still need more information about PAN. I want to apply for PAN as it is mandatory now in India. Before moving to US, we had property and bank accounts etc. there. Now if we apply for PAN, does it effect our previous assets in any way? With regards and thanks, Answer: Pan card is mandatory in India only if you have taxable income that requires filling of tax in India. Pan card is not mandatory for Indians settled abroad who have no income to file in India. Having a Pan number does not effect your property or assets in any way. Pan number is just a method of identity used by the income tax department in India. Something like your US social security number. If you have a pan number and no income to declare then you do not have to file a income tax return in India. For further information on your personal tax status in India you should consult a qualified accountant.
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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
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For non resident Indians across the globe . . .

27. Is Pan Card Mandatory in India

Questions:  Dear Sir, Your website is very informative but I still need more information about PAN. I want to apply for PAN as it is mandatory now in India. Before moving to US, we had property and bank accounts etc. there. Now if we apply for PAN, does it effect our previous assets in any way? With regards and thanks, Answer: Pan card is mandatory in India only if you have taxable income that requires filling of tax in India. Pan card is not mandatory for Indians settled abroad who have no income to file in India. Having a Pan number does not effect your property or assets in any way. Pan number is just a method of identity used by the income tax department in India. Something like your US social security number. If you have a pan number and no income to declare then you do not have to file a income tax return in India. For further information on your personal tax status in India you should consult a qualified accountant.
N
RI Information
Informing  educating and connecting Indians across the globe by Virendar Chand
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
NriInformation Questions &Answers 
Read Disclaimer at bottom of page