Q.1137 Difference between 49A & 49AA - PAN Card Information

Question: Hi there I am looking to understand the difference between 49A and 49AA. How it effect the tax deductions for savings in Indian banks? Like Saving accounts, fixed deposits etc. Regards, Answer: Form 49A and 49AA are application forms used to apply for a PAN Card in India. Form 49A is for Indian citizens and 49AA is for foreigners applying for PAN. My understanding is the Form 49A & 49AA are simply application forms to apply for a PAN. The type of form used makes no difference on tax deductions at Indian banks. Deductions depend on the account holders residential status and the type of account held by an individual. I am not aware of any marking on a PAN card to identify if the holder of the PAN is a resident or non-resident of India. Question related to the difference between to two forms has been answered on this website a few years ago under the title: ‘Difference between Indian and Foreigner PAN Card Application Forms’ Kindly see question number 458, then scroll down to the end of the page. Here is a direct link to the page: http://nriinformation.com/nri_questions5/faqpage138.htm

What do PAN numbers disclose about the PAN holder

PAN is a ten digit alphanumeric number where: First three letters are randomly selected from AAA to ZZZ. Fourth character represents the status of the PAN card holder where: • C stands for Company • P for Person • H for HUF [Hindu Undivided Family] • F for Firm • A for Association of Persons [AOP] • T for AOP [Trust] • B for Body of Individuals [BOI] • L for Local Authority • J for Artificial Juridical Person • G for Government. The fifth character of PAN held by individuals is the surname of the card holder. In case a PAN holder changes their surname, the number cannot be changed as PAN is issued for life. The sixth to ninth characters are sequential numbers running from 0001 to 9999. These are also randomly selected numbers. The tenth character is generated by applying a formula to the preceding numbers to come up with a check digit.

Information 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