Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application.
What is a PAN Card?
It is a laminated card issued by the Indian Income Tax Department, that can be considered as an ID bearing a unique 10 digit alpha numeric permanent account number also known as PAN; which is now mandatory for Non resident & international organizations if they wish to carry any kind of financial transaction in India.
Is it compulsory for a NRI?
With effect from April 1st, 2007, it is compulsory for NRIs, Foreign citizens & international firms.
Is it compulsory for a NRI?
With effect from April 1st, 2007, it is compulsory for NRIs, Foreign citizens & international firms.
HOW you can get it internationally?
You need to quote it on all kinds of money related transactions in India, like buying property, opening demat/bank account, carrying business, etc.
What does a PAN card contain?
It contains your permanent account number, name, birth date, father's name, photo, Govt hologram & signature.
Who is eligible to apply for it?
Anyone of any age can register for one.
Does a NRI pay tax, if he gets a it?
Getting a PAN does not mean you have to pay taxes.
You pay tax only if you make money in India.
You pay tax only if you make money in India.
0 comments:
Post a Comment