PAN Card for NRI: Everything You Need to Know ,The Permanent Account Number (PAN) card is a unique identification number that is issued to all taxpayers in India. While the PAN card is primarily intended for Indian residents, Non-Resident Indians (NRIs) can also apply for a PAN card. In this article, we will discuss everything that NRIs need to know about the PAN card.
Who is an NRI?
An NRI is a citizen of India who is living outside the country for employment, business, or any other purpose that indicates an uncertain duration of stay abroad. An NRI may also be a person of Indian origin who is not a citizen of India but holds a passport of another country.
Why do NRIs need a PAN card?
NRIs need a PAN card for various financial transactions in India, such as opening a bank account, buying or selling property, making investments, and filing income tax returns. A PAN card is also mandatory for NRIs who earn taxable income in India.
