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PAN Form 49AA

 

The Permanent Account Numberis a unique 10-digit alphanumeric code that the Income Tax Department issues to all eligible taxpayers. Both Indian and foreign individuals and business entities can apply for a PAN card as it provides various benefits. Additionally, a PAN card is mandatory for performing various activities such as making high-value transactions and opening a new bank account. The government has made it easy to apply for a PAN card by taking applications via both online and offline means. Form 49AA helps foreign citizens, and legal entities obtain a PAN Card. In this article, we will take a look at the need for PAN Form 49AA and how it helps.

 

What is Form 49AA?

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Form 49AA is a form used by foreign individuals and business entities incorporated outside India to obtain a PAN card. Complete filling of the form requires the applicant’s KYC details. Additionally, specific sections must be filled by a SEBI-registered Qualified Foreign Investor or Foreign Institutional Investor. The structure of the Form is very similar to that of Form 49A, which helps Indian residents and companies obtain a PAN card.

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Structure of Form 49AA

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The structure of Form 49AA and Form 49A is quite similar. Individuals filling Form 49AA only need to provide their basic details which is required for the process of KYC . This form should be duly filled by the Foreign Institutional Investor or a Qualified Foreign Investor under a regulation issued by SEBI.

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For Individuals –

  • Marital status

  • Citizenship Status

  • Occupation details- Private sector service, Public sector/Govt. service, Business

  • Professional, Agriculturist, Retired, Housewife, Student, or Other

 

For Non-Individuals –

  • Type of company- Private Company, Public Company, Body Corporate, Financial Institution, Non-Government Organization or Charitable Organization

  • Gross Annual Income in INR

  • Net-worth (Assets less liabilities) in INR

  • Does it have few persons or persons of the same family holding beneficial ownership and control

  • Is the entity involved/providing any of the following services- Foreign Exchange, Money Changer Services, Gaming/Gambling/Lottery services (Casinos and Betting Syndicates) or Money Lending, Pawning

  • Whether the applicant or the applicant’s authorized signatories/trustees/office bearers are politically exposed or related to a politically exposed person

  • Taxpayer Identification Number in the country of residence

 

How to Fill Form 49AA?

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You can fill Form 49AA both online and offline.

Offline method to fill Form 49AA

  • An applicant can download the form from NSDL or UTIITSL Portal

  • Things to keep in mind while filling out the form:-

    • The form is filled in English

    • An applicant should fill the form in block letters, each box can contain only one character

    • The form should be filled with a Black ink pen, preferably ballpoint pen

    • On the top left of a photograph attached, an applicant should put their signature or left thumb impression

    • Verify that all the details are correct to avoid rejection

 

Online method to fill Form 49AA

  • Visit the NSDL or UTIITSL portal

  • To fill the Application form 49AA for a new PAN card click “Apply Now”

  • An application form will appear, fill all the details carefully and click on Submit

  • After that click on Proceed to Payment Button.

  • Make a payment, an applicant can use any method to make the payment credit card/debit card/ wallet payments/ UPI.

  • Download the application form and get a printout

  • Attach the documents, paste a photograph, sign the application form and send all these to the postal address- 'Income Tax PAN Services Unit, NSDL e-Governance Infrastructure Limited, 5th Floor, Mantri Sterling, Plot No. 341, Survey No. 997/8, Model Colony, Near Deep Bungalow Chowk, Pune – 411016'.

 

Documents Required along with the Form 49AA

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Citizens outside the country are supposed to submit necessary documents along with Form 49AA for Proof of Identity and Proof of Address. Below mentioned are the document required to submit with the application form:

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Documents for Proof of Identity:

  • Driving licence

  • Passport

  • Arm’s licence

  • Aadhaar Card

  • Any photo identity card issued by a government body

  • Pensioner card with a photograph of the applicant

  • Bank certificate

 

Documents for Proof of Address:

  • Electricity bill

  • Landline bill

  • Broadband connection bill

  • Water bill

  • Consumer gas connection

  • Bank account statement

  • Depository account statement

  • Post office passbook

  • Passport of the spouse

  • Passport

  • A domicile certificate that is issued by the government

  • Aadhaar card

 

 

DISCLAIMER- These materials are public information and have been prepared solely for educational purposes. These materials reflect only the personal views of the author and are not individual legal advice.

It is understood that each case is fact specific and that the appropriate solution in any case will vary. Finally, the owner will not be accountable for any loses injuries or damages from the exposures or usage of this information.

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