ALLURI CAPITAL - PAN Card Services
Address: 1 MURCHISON DRIVE ROXBURGH PARK
Suburb: Roxburgh Park
Area: Northern Melbourne
What is a PAN or the PAN Number?
Permanent Account Number (PAN) refers to a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department in India. It is a must to have a PAN number for those who intend to do investments and file their income tax returns in India. It can be considered as a Indian Tax Number (Tax ID) and an ID proof.
Is it Necessary for NRIs to have a PAN Card?
PAN is mandatory as per the Indian Income Tax Department. With effect from April 1, 2006, SEBI has also made PAN compulsory for all investors wanting to invest in India. It is also compulsory to mention a PAN if one wants to carry any kind of financial or investment related transaction in India over Rs.49,999.
What are the uses of a PAN?
As per the Indian Tax Department it is now necessary to quote a permanent account number on most types of financial and investment related transactions in India and also on the tax forms while filing taxes in India. You need to provide a permanent account number if you want to open a Demat Account, make stock investment, buy sell shares/stocks or mutual funds, invest in other kinds of financial assets, purchase real estate, opening bank account, get loans, applying for a visa and passport, receiving rental income, get foreign remittance from abroad, etc.
Is it necessary for NRIs to file taxes in India if they have a PAN?
As far as we know it's not compulsory for NRIs to file taxes in India even if they hold a PAN, however you only file taxes if you generate income from India. Filing taxes does not mean you pay taxes. Filing tax returns and paying taxes are 2 different things. You pay only taxes if you are making money or generating income in India. Thus, it is always advised to file taxes even though you are not making any money in India, because it enhances your credibility and makes it easy for one to get various types of loans.
Our PAN Services
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Monday: 9:00AM - 5:00PM
Tuesday: 9:00AM - 5:00PM
Wednesday: 9:00AM - 5:00PM
Thursday: 9:00AM - 5:00PM
Friday: 9:00AM - 5:00PM
Saturday: 9:00AM - 5:00PM
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