Permanent Account Number (PAN) or commonly known as PAN card or PAN number is the key to investing in Indian financial markets.It is quite similar to Social Security Number of USA or National Insurance (NI) Number in UK. PAN is a 10 digit alpha numeric number which is allotted by Income Tax Authority in India and serves as a unique identifier of a person's financial history in India. Almost all financial transactions in India now require quoting of PAN without which the transactions can not be executed.
While it is easy for Resident Individuals in India to get their PAN by filling a PAN request form, many a times NRIs find it very tedious to obtain PAN in India. As in the case of opening Bank accounts, the primary difficulty faced by NRIs is the logistics issues in getting the PAN application filled and submitted in India and complying with the tedious documentation requirements of PAN.
What documents are required for getting a PAN?
For getting a PAN, a person requires one ID proof and one address proof. This is simple for Resident Indians, for NRIs the specific ID proofs are mentioned in the list of required documents list issued by Income Tax authorities. Further most of these documents need to be attested by Indian embassy, High Commission, Consulate or apostile of the country where the applicant is located. Details of the document requirements can be found at http://www.utitsl.co.in/pan/pan_nri.html