PAN 2.0 rolled out: What it means for NRIs
PAN 2.0 initiative on 25 November. The government has allocated Rs 1,435 crore for this project, aimed at overhauling the current PAN/TAN system to improve efficiency and taxpayer convenience.
At the time of the announcement, Union Minister Ashwini Vaishnaw said that the upgrade of PAN includes adding a QR code. This will be rolled out free of cost to all taxpayers.
Non-Resident Indians (NRIs) who are required to file a return of income or intend to enter into an economic or financial transaction where quoting of PAN is mandatory must have this identity proof.
Also Read: New PAN cards to soon have QR codes
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An NRI can apply for PAN by submitting the Form No. 49A along with the requisite documents and prescribed fees at the PAN application center of UTIITSL or Protean (formerly NSDL eGov). He can also make an online application through the website of UTIITSL or Protean (formerly NSDL eGov).
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