458. Difference in PAN Application forms for Indians and Foreigners. . .
Questions: Hi Vk Chand, I became U.S.A citizen and took OCI. I came to india to live between 6 months to 1 year. I have the following questions. 1) Can i apply for PAN card from India ? 2) If i can apply do i need to apply as OCI holder ? 3) Can i use this PAN card for bank transactions in india ? like open account, deposit more than 50,000 since they are asking to provide PAN card information if we deposit more than 50,000 4) After i come back to USA can i use the PAN card which i received in india for DEMAT accounts and purchasing stocks through NRI account from USA ? I really appreciate if you could provide the information for the above Thanks P.P Answer: Regarding your four questions: 1. Yes! you can apply for a PAN card from India. 2. Since OCI holders are still foreigners and not Indian citizens, you need to apply for a PAN card using the PAN application form applicable to foreigners. More on this point at the end of this page* 3. You can use the PAN card for transactions in India such as opening bank accounts, depositing more than Rupees 50,000 etc. 4. Each individual can have only one PAN card, so where ever a PAN is required they can use it. However, you cannot do direct online transactions in the secondary market from USA if you have a non-resident demat account. Buying and selling is done through your designated broker.*OCI holder applying for PAN Card in India
Difference between Indian and Foreigner PAN Card Application Forms
As of April 2012, application form changes have come into effect. There are now two types of PAN card application forms. Form 49A which is for Indian citizens and Form 49AA which is for foreigners. All Persons of Indian origin (PIO) who have acquired foreign citizenship, must apply for PAN card using the application form for foreigners, i.e. Form 49AA. Hence, even OCI holders, living in India, should apply for a PAN using Form 49AA and not Form 49A. This is because, even OCI holders are actually foreigners. There appears to be only a minor differences in the two PAN card application forms. I find that up to question number 11, both PAN application forms are the same. Some of the other differences are shown below:
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
FORM 49A (PAN Card Application form for Indian Citizens)
•
No change up to question number 11.
•
In question number 12, the provision to fill in
Aadhaar number is provided.
•
In question number 15, selection of documents now
shows a list of documents acceptable as proof of
address and identity from Indian citizens.
FORM 49AA ( PAN Card Application form for Foreign Citizens)
•
No change up to question number 11.
•
In question number 12, the provision to select country of
citizenship and telephone area code is provided
•
In question number 15, selection of documents now
shows a list of documents acceptable as proof of address
and identity from foreign citizens.
•
Question 16 on Form 49AA does not apply to you if you
are a person of Indian origin and applying for a PAN card
for your self as a individual. This section applies to a
Foreign Institutional Investor or a Qualified Foreign
Investor.
NriInformation Questions &Answers
Read Disclaimer at bottom of page
NRI - OCI - PIO Guide & Information
458. Difference in PAN Application
forms for Indians and Foreigners
Questions: Hi Vk Chand, I became U.S.A citizen and took OCI. I came to india to live between 6 months to 1 year. I have the following questions. 1) Can i apply for PAN card from India ? 2) If i can apply do i need to apply as OCI holder ? 3) Can i use this PAN card for bank transactions in india ? like open account, deposit more than 50,000 since they are asking to provide PAN card information if we deposit more than 50,000 4) After i come back to USA can i use the PAN card which i received in india for DEMAT accounts and purchasing stocks through NRI account from USA ? I really appreciate if you could provide the information for the above Thanks P.P Answer: Regarding your four questions: 1. Yes! you can apply for a PAN card from India. 2. Since OCI holders are still foreigners and not Indian citizens, you need to apply for a PAN card using the PAN application form applicable to foreigners. More on this point at the end of this page* 3. You can use the PAN card for transactions in India such as opening bank accounts, depositing more than Rupees 50,000 etc. 4. Each individual can have only one PAN card, so where ever a PAN is required they can use it. However, you cannot do direct online transactions in the secondary market from USA if you have a non-resident demat account. Buying and selling is done through your designated broker.*OCI holder applying for PAN Card
in India
Difference between Indian and
Foreigner PAN Card Application
Forms
As of April 2012, application form changes have come into effect. There are now two types of PAN card application forms. Form 49A which is for Indian citizens and Form 49AA which is for foreigners. All Persons of Indian origin (PIO) who have acquired foreign citizenship, must apply for PAN card using the application form for foreigners, i.e. Form 49AA. Hence, even OCI holders, living in India, should apply for a PAN using Form 49AA and not Form 49A. This is because, even OCI holders are actually foreigners. There appears to be only a minor differences in the two PAN card application forms. I find that up to question number 11, both PAN application forms are the same. Some of the other differences are shown below:
FORM 49A PAN Card
Application form for
Indian Citizens)
•
No change up
to question
number 11.
•
In question
number 12, the
provision to fill
in Aadhaar
number is
provided.
•
In question
number 15,
selection of
documents now
shows a list of
documents
acceptable as
proof of
address and
identity from
Indian
citizens.
N
RI Information
Informing
educating and connecting Indians across the globe
NriInformation Questions &Answers
Read Disclaimer at bottom of page
© Copyright 2006 Nriinformation.com
FORM 49AA PAN Card
Application form for
Foreign Citizens)
•
No change up to
question
number 11.
•
In question
number 12, the
provision to
select country
of citizenship
and telephone
area code is
provided
•
In question
number 15,
selection of
documents now
shows a list of
documents
acceptable as
proof of address
and identity
from foreign
citizens.
•
Question 16 on
Form 49AA does
not apply to you
if you are a
person of Indian
origin and
applying for a
PAN card for
your self as a
individual. This
section applies
to a Foreign
Institutional
Investor or a
Qualified
Foreign
Investor.
