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OCI PAN Card

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Sunny

Self

25 Points Posted on 20 January 2023

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.

Replies (3)

Quick Summary

This discussion addresses the complexities of using an Indian PAN card after obtaining Overseas Citizenship of India (OCI) status, particularly for purchasing residential property. The original poster faced conflicting advice from NSDL and the IT office regarding updating their PAN details. A chartered accountant clarifies that if the individual is considered a non-resident under the Income Tax Act, they are exempt from linking Aadhaar with PAN and do not need a new PAN card, only an update to their residential status.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121546 Points Posted on 20 January 2023

1. Apply for modification of the existing PAN card.

Sri Vishnu

27 Points Posted on 27 January 2023

@ 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

CA Sorav Gupta

Chartered Accountant

328 Points Posted on 27 January 2023

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)