Q.1103 In case PAN info changed, do not apply for new PAN . . .

Question: Hi, I am a NRI (US passport holder).While I was in India I obtained PAN Card and also having Saving Bank Account in SBI which is linked to PAN. Now I wanted to invest money in Mutual Funds as NRI. Please clarify whether I have to apply for a fresh PAN Card being a NRI or the old PAN Card is sufficient Answer: PAN is for life and Individuals can have only ONE PAN. Having more than one PAN is also illegal. In case of change of information of a person who has a PAN, they should not apply for new PAN but get corrections made to PAN database to make info current. The online procedure of making corrections to PAN referred to as Changes Or Correction in PAN Data (PAN Change Request Form) should be used. When it comes to taking in money, banks will gladly help you with your PAN issue to get your mutual fund investment business. Contact your bank, tell them you want to invest but need clarification on you PAN.
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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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Q.1103 In case PAN info

changed, do not apply for new

PAN . . .

Question: Hi, I am a NRI (US passport holder).While I was in India I obtained PAN Card and also having Saving Bank Account in SBI which is linked to PAN. Now I wanted to invest money in Mutual Funds as NRI. Please clarify whether I have to apply for a fresh PAN Card being a NRI or the old PAN Card is sufficient Answer: PAN is for life and Individuals can have only ONE PAN. Having more than one PAN is also illegal. In case of change of information of a person who has a PAN, they should not apply for new PAN but get corrections made to PAN database to make info current. The online procedure of making corrections to PAN referred to as Changes Or Correction in PAN Data (PAN Change Request Form) should be used. When it comes to taking in money, banks will gladly help you with your PAN issue to get your mutual fund investment business. Contact your bank, tell them you want to invest but need clarification on you PAN.