PAN (Permanent Account Number)
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PAN (Permanent Account Number) is a 10-character alphanumeric identifier issued by India's Income Tax Department that tracks an individual's financial transactions and tax filings, and is required for most property transactions, many investment accounts, and Indian tax return filing.
An NRI typically needs a PAN to sell or purchase property in India, to invest in most securities or
mutual funds, to open certain categories of bank accounts, and to file an Indian income tax return.
NRIs and foreign nationals generally apply using Form 49AA rather than the resident Form 49A, and can
apply from abroad through NSDL/UTIITSL's online process or through an Indian mission. Unlike for residents,
linking PAN with Aadhaar is not mandatory for NRIs, since Aadhaar itself is intended only for residents who
meet the 182-day physical presence test -- but an NRI's PAN can still become inoperative if incorrectly
flagged, so it is worth periodically confirming its status on the Income Tax Department's portal.
