PAN Re-Activation for NRIs
Sumit Bihani
Chartered Accountant | Partner @ MBRM & Associates | AI Enthusiast I Co-opted Member-AI in ICAI 2024-25 | NRI Taxation
PAN number of Few NRI's have become inoperative, inspite they being NRIs/ OCIs ,being exempted from linking their PAN with Aadhaar
What is to be done if I am an NRI and my PAN is still Inoperative:
The NRIs whose PANs are inoperative are requested to intimate their residential status to their respective JAO along with supporting documents with a request to update their residential status in the PAN database. Details of JAO can be found at - https://eportal.incometax.gov.in/iec/foservices/#/pre-login/knowYourAO
What Led to the Deactivation of PAN
a)????? Not updating of their residential status on the Income Tax Portal
b)????? Systematic Errors.
Implications Of Non-Compliance of Linking
1.?Higher TDS/TCS Rates: If your PAN status is marked as 'Inoperative', you will be subject to higher rates of TDS (Tax Deducted at Source) and TCS (Tax Collected at Source).
2.?Inoperative PAN: Not linking PAN with Aadhaar will render the PAN inoperative. This means that you will not be able to conduct financial transactions where quoting of PAN is mandatory. This includes opening a bank account, applying for a loan, and filing income tax returns
3.Penalty and Compliance Issues: There may be penalties for non-compliance, and you may face difficulties in receiving refunds and other tax-related benefits.
For more details visit https://www.incometax.gov.in/iec/foportal/help/e-filing-link-aadhaar-faq
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For whom?was Aadhaar-PAN linkage not compulsory?
?Aadhaar-PAN linkage requirement does not apply to any individual who is:
·?????? Residing in the States?of?Assam, Jammu and Kashmir, and Meghalaya;
·?????? a non-resident as per the Income-tax Act, 1961;
·?????? of the age of eighty years or more at any time during the previous year; or
·?????? not a citizen of India.
Can an NRI apply for Aadhaar?
Yes. An NRI (whether minor or adult) with a valid Indian Passport can apply for Aadhaar from any Aadhaar Enrolment Centre. In case of NRIs the residential condition of 182 days is not mandatory.
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