PAN CARD INDIA

OCI holder applying for PAN Card in India   Difference between Indian and Foreigner PAN Card Application Forms 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 49AA ( PAN Card Application form for Foreign Citizens) • No change up to question number 11. ...

Permanent Account Number (PAN) was introduced by the Indian Income Tax Department in order to facilitate easy retrieval of information and matching information relating to an assessee's investment, payment of taxes, raising of loans, assessment, tax demand, tax arrears etc.The Permanent Account Number (PAN) is unique, national, and permanent. It is unaffected by a change of address, even between states in India. As a universal identification key the PAN helps to monitor all financial transactions of high net worth individuals and thereby indirectly prevent tax evation. Pan Card is issued by the CBDTIndian Income Tax Department under the supervision of the Central Board for Direct Taxes (CBDT) and is almost equivalent to a national identification number. It also serves as an important ID proof. From 1 January 2005 it has been made mandatory to quote the Permanent Account Number (PAN) on challans for any payments due to ...