A person was a citizen of India and had a PAN card. Now, he is citizen of another country and has OCI.
He wants to use the old PAN card in purchase of residential property.
1. Does the PAN need to be updated? NSDL says the citizenship needs to be updated by Assessing Officer and says go to IT office. IT office says surrender old pan card and apply for a new one. Everyone givies a different answer.
2. OCI can't have Aadhar. So is OCI exempt from Aadhar to PAN linking?
Thank you.
1. Apply for modification of the existing PAN card.
@ dhirajlal
I'm using credit card vigorously just for cashback points. But my monthly billed statement is <5000. I'm repaying the dues before the statement is been generated. Till now, i made 20L + usage in credit card but the overall billed statement is < 1 lakh. Will I be traced in form 26 AS under SFT-006? Will IT department found me?
Read more at: https://www.caclubindia.com/forum/credit-card-billed-statement-lt-10lakhs-596471.asp
Hi Sunny
A person who is non-resident as per Income Tax Act, 1961 is exempt from linking aadhaar with PAN.
So, if the person is non-resident then he/she is not required to link their aadhaar with PAN. Just update their residential status with income tax, There is no need to apply for the new PAN at all.
In case of any further queries, kindly mail me at casoravgupta @ gmail.com
Thanks & Regards
ACA. Sorav Gupta
(Practicing Chartered Accountant)
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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Jawahar and Associates Chartered Accountants
Hyderabad
CA Inter
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