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To ensure compliance with the requirements mandated by SEBI, it is now mandatory for all investors (including NRIs) to submit a copy of the PAN card while making a new / additional purchase transactions (including SIPs) of any amount. In absence of the above, such transactions will be liable for rejection by the mutual fund with effect from Jan 01, 2008. |
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Applicability of the new guidelines: |
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Only PAN card copy is accepted as PAN proof, effective January 1, 2008. No document would be accepted in lieu of the PAN. Thus form 49A / 60 or evidence of PAN other than a PAN card will not be accepted. |
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Submission of PAN card copy is mandatory for all existing as well as prospective investors (including joint applicants / holders, guardians and NRIs) for investing with Mutual Funds from January 1, 2008. |
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Existing investors who had earlier provided Form 49A or copy of application for issue of duplicate PAN card must submit a copy of their PAN card to us immediately, to continue transacting with us. |
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NRI PAN FAQS: |
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As you would have come to know by now that no investment is possible without obtaining and submitting a copy of PAN Card, lot of questions regarding PAN card must have come up to your mind. Hence, we will, in this section will try to answer all your queries regarding PAN. We have tried to cover all aspects related to PAN Card in this section but still there might be few doubts or questions left unattended. So if your doubt is not cleared even after reading this FAQ, please feel free to contact our advisors. |
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| Q. What is PAN? |
Ans. Permanent Account Number (PAN) is a ten-digit alphanumeric code that is required by all those involved in any financial deal, be it payment of tax or investing in the Share Market, Mutual fund. It is issued by the Income Tax (I-T) Department of the Government of India in the form of a laminated card. A typical PAN would read like GJSK84521U. |
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| Q. Why is it necessary to have PAN? |
Ans. As per the revised rules of the I-T Department, it is compulsory to have PAN if you are involved in any kind of monetary transaction whatsoever. Such deals may include payment of tax, buying or selling of automobiles, depositing cash more than Rs.50000 in bank, paying bills worth more than Rs.25000 in hotels, obtaining a new telephone connection, investing in the Indian Share Market, Mutual Fund etc. Moreover, PAN serves as an identity proof. |
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| Q. What is the procedure for getting PAN made? OR how can I apply for PAN? |
Ans. The process of applying a pan card is very simple through us. You can obtain the pan application form from us, (you can simply download the form from our website) fill it and send it to us. For more details please contact us.
Please note that we are simply a broker assisting you in submitting your pan application in the the I-T (Income Tax) Department of India. IT Department has set up numerable facilitation centres from where one can buy/submit Form 49A. These facilitation centres are supervised by UTIISL (please provide full name) or NSDL and have been authorised to mete out PAN services from TIN facilitation centres.
Incomplete forms will NOT be accepted. |
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| Q. What are the documents required to be submitted along with the application form? |
Ans.
In case of individual applicants:
There are different documents needed for PIOs, OCIs and NRIs. In general documents needed are: Bank Statement, OCI/PIO Card copy, Foreign/Indian passport, etc. Exact documents would vary from case to case. So please email us to inquire about the supporting documents needed before you send out the application to us.
Note: Photograph is compulsory ONLY in case of individual applicants |
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| Q. Can a person obtain more than one PAN? |
| Ans. Having more than one PAN is a punishable offence. |
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| Q. How to locate the nearest I-T facilitation centre? |
Ans. The local I-T Office, and/or any office of the UTI/UTIISL/NSDL, and/or any of the following website - www.incometaxindia.gov.in, www.utiisl.co.in, tin.nsdl.com - can help you locate the nearest I-T facilitation centre. |
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| Q. Will you help me fill out the application form? OR what services do you provide? |
Ans. Yes, apart from supplying the pan form we will be helping you fill out Form 49A as per the IT department rules. Once the applications are filled with our assistance, you may send those to us and we will submit them to the IT PAN centres on your behalf. The PAN card would be delivered to your abroad address within 20 -25 days. |
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| Q. Are there any documents to be submitted with the Request form? |
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| Q. What is to be done if we have not received the PAN but have applied for the same some time back? OR I have to file tax returns but I have not obtained my PAN despite having submitted my application a month back. |
Ans. For such cases, please contact Aaykar Sampark Kendra (ASK) at 0124 - 2438 000 (or 95124 - 2438 000 if you are a NCR resident),
or visit
and go to "know your PAN". |
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| Q. Do I have to apply for PAN again in case of change of residence? |
Ans. PAN is a permanent number and remains the same lifelong. You do not have to apply for a new PAN in case of change of residence (even if the change pertains to change in city). But such changes have to be brought to the notice of the I-T Department so that they may update their data. For this you will have to fill 'Request for New Card and/or Change in PAN Data'. |
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IMPORTANT POINTS: |
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In case of female applicants, irrespective of marital status, father's full name HAS to be mentioned. |
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Providing one’s contact number is not compulsory, but it is advised to do so for quick communication. |
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A Representative Assessee may apply for PAN in case of non-resident Indian . A photo identity cum address proof of Representative is required for the same. |
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