Is Indian Pan Card Compulsory for Nri

<h1>Is Indian Pan Card Compulsory for Nri - Non Resident Indian</h1>Author: <a title="Aditya Sharma" href="http://www.articlesbase.com/authors/aditya-sharma/63116.htm">Aditya Sharma</a> Lose your PAN card? The document of identity, known as a ration card, has been replaced by the PAN card. A <a href="http://www.pancardnri.com/" target="_self" title="PAN Card for NRIs, PIOs & OCIs">PAN card</a> is important in verifying your antecedent and is used as a passport to becoming financially free. Below is some help if you lose this document. In the United States of America , the Social Security card is extremely important. It identifies every resident taxpayer. The Indian PAN Number is equal to the Social Security card. What does PAN stands for? PAN is abbreviated from Permanent Account Number. It is a card that has a 10-digit code on it. It is given to all taxpayers. Here is an example of a PAN: JBPKSD4779. Why is a PAN card necessary? You need a <a href="http://www.pancardnri.com/benefits-of-pan-number.html" target="_self" title="Benefits of PAN Card">PAN card</a> when you are filing your income tax returns and when filing challans. As soon as you earn any income in India , you need to get your PAN immediately. You will not be able to open a bank account in India without a PAN card. It is also necessary to have a PAN card if you want to invest in financial instruments like mutual funds, a demat account, or shares in India. A PAN card is also mandatory if you want to buy or sell property or a vehicle. Things like Hotel bills, cash payments exceeding $625 while traveling overseas, depositing money, or telephone/mobile connection require you to submit proof of your PAN card. <a href="http://www.pancardnri.com/lost-pan-card.html" target="_self" title="Lost PAN Card">What to do if I lose my PAN card.</a> Carrying out any financial transaction without a PAN is next to impossible, so it is important to take care of it. Its small in size and you would need to carry it with you a lot, so it could be easy to lose. In case you have lost your PAN, you should not be alarmed. Follow these steps to take care of the situation: <ul> <li>Report it missing at the closest police station the minute you see that your PAN card is missing. If you are outside the country and not traveling to India in the near future, have someone located in India report it for you.</li> </ul>   <ul> <li>Write and send a letter to the income tax department letting them know that you have lost your PAN and ask them to send you a replacement card. Attach a copy of the police report to the letter.</li> </ul>   <ul> <li>Reapply for your PAN card and attach everything along with the other important documents.</li> </ul>   Try making a photocopy of the PAN card to help prevent misplacing it again.About the Author: Myself Aditya Sharma (Sr.Investment Advisor), and I work for a <a href="http://www.nriinvestindia.com/">NRI Investment company</a> (<a href="http://www.nriinvestindia.com/"><a href="http://www.NriInvestIndia.com" target="_blank">www.NriInvestIndia.com</a></a>) that helps NRIs, PIOs and OCIs to invest in India's top mutual funds. 
 
Here at NriInvestIndia.com we focus in delivering value service to our NRI clients when it comes to their investments in the Indian stock markets – NSE & BSE. Our equity & mutual fund investment advising is structured to suit the investment objectives of the non resident Indian investor in a long run (including PIOs and OCIs). 
 
We at NriInvestIndia.com advise our clients to invest across various financial products viz: Mutual funds, RBI bonds, Portfolio Management Services for NRIs, Stocks & Shares, Trading Account, Dmat Account, SIPs – systematic investment plans, etc, based on your risk-return profile.Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/investing-articles/is-indian-pan-card-compulsory-for-nri-non-resident-indian-707264.html" title="Is Indian Pan Card Compulsory for Nri - Non Resident Indian">Is Indian Pan Card Compulsory for Nri - Non Resident Indian</a>

Lose your PAN card?

The document of identity, known as a ration card, has been replaced by the PAN card. A PAN card is important in verifying your antecedent and is used as a passport to becoming financially free. Below is some help if you lose this document.

In the United States of America , the Social Security card is extremely important. It identifies every resident taxpayer. The Indian PAN Number is equal to the Social Security card.

What does PAN stands for?

PAN is abbreviated from Permanent Account Number. It is a card that has a 10-digit code on it. It is given to all taxpayers. Here is an example of a PAN: JBPKSD4779.

Why is a PAN card necessary?

You need a PAN card when you are filing your income tax returns and when filing challans. As soon as you earn any income in India , you need to get your PAN immediately. You will not be able to open a bank account in India without a PAN card.

It is also necessary to have a PAN card if you want to invest in financial instruments like mutual funds, a demat account, or shares in India. A PAN card is also mandatory if you want to buy or sell property or a vehicle. Things like Hotel bills, cash payments exceeding $625 while traveling overseas, depositing money, or telephone/mobile connection require you to submit proof of your PAN card.

What to do if I lose my PAN card.

Carrying out any financial transaction without a PAN is next to impossible, so it is important to take care of it. Its small in size and you would need to carry it with you a lot, so it could be easy to lose.

In case you have lost your PAN, you should not be alarmed. Follow these steps to take care of the situation:

Report it missing at the closest police station the minute you see that your PAN card is missing. If you are outside the country and not traveling to India in the near future, have someone located in India report it for you.

Write and send a letter to the income tax department letting them know that you have lost your PAN and ask them to send you a replacement card. Attach a copy of the police report to the letter.

Reapply for your PAN card and attach everything along with the other important documents.

Try making a photocopy of the PAN card to help prevent misplacing it again.

Myself Aditya Sharma (Sr.Investment Advisor), and I work for a NRI Investment company (www.NriInvestIndia.com) that helps NRIs, PIOs and OCIs to invest in India's top mutual funds.

Here at NriInvestIndia.com we focus in delivering value service to our NRI clients when it comes to their investments in the Indian stock markets – NSE & BSE. Our equity & mutual fund investment advising is structured to suit the investment objectives of the non resident Indian investor in a long run (including PIOs and OCIs).

We at NriInvestIndia.com advise our clients to invest across various financial products viz: Mutual funds, RBI bonds, Portfolio Management Services for NRIs, Stocks & Shares, Trading Account, Dmat Account, SIPs – systematic investment plans, etc, based on your risk-return profile.

Rate this Article:

5 / 5 stars - 1 vote(s)

Re-Publish

Related Videos
Related Articles
Ask / Related Q&A

Play

How to Create a Pots and Pans Pull-out

Play

How to Weld an Oil Pan

Play

How to Fill Muffin Pans

Play

How to use Different Pots and Pans

Play

How to Make Pan Fried Whole Trout

Article Source: http://www.articlesbase.com/investing-articles/is-indian-pan-card-compulsory-for-nri-non-resident-indian-707264.html

Latest Investing Articles
More from Aditya Sharma

Japanese Candle Charting Opens Doors of Understanding

By: William Kurtz | 10/07/2009
The "bar chart" method of financial price display is fine as far as it goes, but it has been superseded by the Japanese Candlestick method, which uses the Candlesticks as the base. It then goes on further so as to display the area between the opening price and the closing price as a cylinder, left white if the close is higher than the open and filled in black if the close is less than the open. Simple, but highly effective and revealing.

You Can Now Make Good Stock Investments - Penny Stock Fortunes

By: Bryan Burbank | 10/07/2009
Penny stocks are a great way that you can make money in the stock market but it is important that you learn how they work. There are many advantages to investing your money in the stock market because over the long haul it has been proven that you will come out ahead. The benefits to investing in penny stocks are that you will be able to maximize profits because the cost of each share is so low. You will be able to purchase a large amount of penny stocks for a small price, so when the price pe

You Can Easily Get Rich Trading Penny Stocks

By: Bryan Burbank | 10/07/2009
Many people are looking for ways to invest their money and now because the housing market is bad, many people are finding that penny stocks can be good for them. The best part about investing in penny stocks is that you can make a lot of money with a small investment. You have a lot of leverage because you are able to buy a large amount of shares with a small amount of money. What this does for you is when the price per share goes up a small amount you make a great profit. It is important tha

How to Have a Penny Stock Fortune - Tips to Make Money Investing in Penny Stocks

By: Bryan Burbank | 10/07/2009
If you are looking for a great investment in you may want to consider buying and selling penny stocks. There are many advantages to trading in these types of securities because you get a lot bang for your buck. Sometimes it is difficult to be positive when we see the stock market at such low levels. You must realize that over time the stock market is one of the best things to invest your money in. One way that you can maximize your profits is to use a penny stocks because they allow you to buy m

Beware of 'bonus rates on saving accounts'

By: Sam Gooch | 10/07/2009
Those Britons on the search for a new savings account are being advised to do so with care, it has been revealed. Careful consideration should be taken when selecting a savings account, it has been suggested.

You Can Now Profit With Trading Penny Stocks

By: Bryan Burbank | 10/07/2009
If you are looking to make money now than you need to take advantage of penny stock day traders. There are so many great advantages to investing in the stock market and even during bad economic times you can profit. The most important thing that you do is get the best advice when investing in penny stocks. There are many publications that specialize in buying and selling these types of investments and this can benefit you because to make money you need to have the knowledge. If you have look at

Learn How to Find the Best Penny Stock Investments

By: Bryan Burbank | 09/07/2009
Many people like to invest in the stock market so that they can build a nest egg for the future. If you are a more risky type person then you may want to look into buying and selling Penny stocks. Many people have made a fortune with these type of stocks because you can purchase a large amount for a small price and the advantage is if the stock goes up just a small amount, because you have so many shares. You make a great profit. It is always best to get as much advice as possible when buying

Find the Best Penny Stocks - Invest in the Right Penny Stocks to Make Money

By: Bryan Burbank | 09/07/2009
When looking for great stocks to invest in you want to consider the opportunities that are available in penny stocks. If investing in penny stocks you need to make sure that you understand how these type of investments work before you jump in. There is a lot of money to be made when you buy inexpensive stocks and the advantage is that you can own a lot of shares for a small amount of money. You make money because the stock rises just a fraction and with having so many shares, your investment p

How to Get Changes & Correction in Pan Card for Nris?

By: Aditya Sharma | 05/01/2009 | Investing
You do not have to get rid of the old PAN card because it is your permanent account number. However, if a woman were making legal changes to her name, then it would be wise to surrender it and apply for a new PAN card.

Is Indian Pan Card Compulsory for Nri - Non Resident Indian

By: Aditya Sharma | 03/01/2009 | Investing
In the United States of America , the Social Security card is extremely important. It identifies every resident taxpayer. The Indian PAN Number is equal to the Social Security card.

Why Nris Should Invest in India – Investing Reasons for Pios..!!

By: Aditya Sharma | 19/07/2008 | Investing
Through this article we intend to put some light on the available investment opportunities in India or some best investing options in India available to NRIs, PIOs & OCIs.

Learn How Nris Can Do Online Trading in Indian Shares – Stocks?

By: Aditya Sharma | 10/07/2008 | Investing
Everything today has become ‘online’ and this includes trading! All non-residents today trade online. Almost all the registered brokers today offer Online Trading facility in Equities for non-residents.

Is Indian Stock Market Still Good for Nris to Invest?

By: Aditya Sharma | 02/07/2008 | Investing
So you as an NRI are confused whether to invest in India at these levels or not?

Want to Invest in Indian Government Bonds – Learn More About Rbi Bonds and Bond Market of India

By: Aditya Sharma | 25/06/2008 | Investing
The Indian bond market, however, is today at par with some of the leading markets of Asia like Korea. The grapevine is that in a few years, the Indian bond market will be counted as a renowned market of the world.

Online Tutorial About Indian Stock Market – India’s Nse & Bse Share Markets

By: Aditya Sharma | 19/06/2008 | Investing
India’s National Stock Exchange (NSE) & Bombay Stock Exchange (BSE) Share Markets.