Invest In India

At the beginning of each year, I usually invest a certain amount of money to buy Index Mutual Funds in India. This year when I went to do that , I was told that they need to have a copy of my PAN card even though I’m an NRI (Non Resident Indian). So now I’m in the process of getting it with the help of my father in India. It is unfortunate that all this cannot be done online. You can download the form but you still have to submit it in India.

So what is a PAN card ?

Issued by Income Tax Office, PAN is a national identification number, given to all taxpayers of India. Holders can bring this number into use for a number of activities such as opening an account, to get a phone connection, property deals, receiving salary or professional fees.

PAN aims at preventing tax evasion by keeping a track record of monetary transactions. Moreover, it’s another advantage lies in its being national and permanent and unaffected by a change of address, even among states. A person holding PAN may take it as his/her social security number.

What Does a PAN CARD show?

Your PAN CARD contains:

• PAN Number
• Name
• Date of Birth
• Father’s Name
• Photograph
• Signature

How to apply for a PAN Card ?

You can apply for your PAN card based on your passport as proof of identity and residence. Today you can get your PAN card with a simple click of your mouse. That’s right, you don’t even have to make a trip to India to apply for PAN!

You can easily download the PAN form from the internet, fill it up, attach the supporting documents, and send it to your relatives/friends back in India who can forward it to the IT Department. Your PAN card will be delivered to your address within 2 months. If you are in one of the 99 countries for which foreign delivery addresses are accepted then you can apply online and send documents direct to the department. But this printed form and documents must reach them in 15 days of online submission, which may be a challenge!

Update:

You can submit you PAN card application online at http://myutitsl.co.in/newpcc/invest_option.php

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