PAN card requirement for NRIs

[vsvas]

Hi,

I had taken Peerless policy with a maturity of 10 years around 13 years back. I paid the premium for the first two years and then as I had to go abroad I could not pay the remaining payments. I have been living as an NRI for the past 11 years now. Now that my Peerless policy had passed the 10 year maturity period, I would like to claim the amount that I paid, which actually got appreciated over the last 13 years. When I submitted my application to Peerless, the authorities at Peerless want my PAN number.

As I said earlier, as I have been living as NRI abroad for the last 11 years, I do not have a PAN number.

In this regard, can some one let me know a) Does an NRI needs a PAN number, b) What re the advantages and disadvantages of having a PAN number, c) how can I get a PAN number and lastly is there any other easy and quick way of getting my appreciated investment from Peerless.

Your reply and suggestions will be appreciated.

Thanks & regards,
Srinivas

 

[vinsu]

Hi,

I had taken Peerless policy with a maturity of 10 years around 13 years back. I paid the premium for the first two years and then as I had to go abroad I could not pay the remaining payments. I have been living as an NRI for the past 11 years now. Now that my Peerless policy had passed the 10 year maturity period, I would like to claim the amount that I paid, which actually got appreciated over the last 13 years. When I submitted my application to Peerless, the authorities at Peerless want my PAN number.

As I said earlier, as I have been living as NRI abroad for the last 11 years, I do not have a PAN number.

In this regard, can some one let me know a) Does an NRI needs a PAN number, b) What re the advantages and disadvantages of having a PAN number, c) how can I get a PAN number and lastly is there any other easy and quick way of getting my appreciated investment from Peerless.

Your reply and suggestions will be appreciated.

Thanks & regards,
Srinivas

Hi .

1. Yes, NRI do need a PAN number , for investments in India , e.g your case above and if you wish to invest in Stocks and other investments.
2. No disadvantages . Advantange , you will get your money back .
3. Apply for PAN is easy . You need to fill form 49A , here http://tin.nsdl.com/. However , for ease , you dont need to say that you are a NRI. You can apply through a relative in India, of course you need an Indian address with proof . PAN will come in 15 day s.

Best of luck .

 

[vsvas]

Thanks a lot for your feedback and information Vinsu. Have a hood day.