NRIs Investing In India

Hello Traderji Family,
I discovered this website through Google, while searching for information on PAN requirements for NRIs.

There is a big Indian community of NRIs in USA (and in other countries) who hold stocks of Indian companies and have trading accounts in India. Unfortunately there is not much information available here for guidance of NRIs investing in India. My puropse of joining Traderji.com is to get guidance from the trading community.

I hold a DMAT acoount in India as an NRI in ICICI Bank. Recently the Bank informed me that I cannot trade my stocks unless I produce a PAN. I looked for information on PAN for NRIs. The only information I could get is that NRIs can get PAN through a representative assessee. This information is insufficient for me and I am at a loss to know how tho proceed.

I shall be obliged if any one can let me know How I can obtain PAN sitting in USA?

Thanks

Tishya Kumar Bhatia

Hi, Dear
how r u? I have also same problem like you. I m also searching the best way for online trading. If you get any information let me know. I have inquired in all bank and they told me that you can buy & sell with the help of broker in india. Still i am searching online trading or direct trading. bcz i m afraid to do trading with broker.
ok bye
from gaurang

HI Tishya,

I am also an NRI stationed in Singapore. Recently, i also encountered the same problem as you. I have not done trading until this moment. I wanted to do that . So i started searching for all these things like demat, trading, PAN etc.

At last I found out that you can actually do it by starting a trading account with ICICIDIRECT. They have have a facility whereby u just need to send the PAn application form with your trading account openeng form. They are doing it through a third party.(M/S CHADURVEDI if i am not wrong)

I am planning to do it this week.

Hope this information is helpful to u.

regards
bidder

Here is how you can apply for PAN from The Income Tax Department

a. Download the PAN Application Form available at http://www.tin-nsdl.com/downloads/form49a.pdf

b. Go through the instructions for filling up the form and for payment of fees.

c. You may provide the details of a representative assessee in India to act on your behalf in Point no 14. An address in India (of the representative assessee or of the applicants residence) is required for receipt of PAN card.

d. The Application can be submitted to any of the centers given at http://www.tin-nsdl.com/TINsearch.asp.

You / your representative (if mentioned on the form) will receive the PAN card from the Income Tax Authorities after the allotment. You can then submit this form along with a copy of the PAN card.