Apply PAN Card from Oman

For NRIs, it is not just a regulatory step to apply for a PAN card. For them, it is a way to manage the financial and investment matters in India. However, not having a PAN card creates a lot of issues. For instance, delays in property settlements, paying higher TDS, or not being able to invest in the Indian market. To avoid all these issues and to obtain an NRI PAN card from Oman is simple. You need to visit the PAN card official website, fill out the form, submit the required documents, pay the fee, and, within the given timeline, receive the card. 

Confused? Want to know about all this in detail? Read the blog and get all your answers. 

Who in Oman Needs an Indian PAN Card?

Any NRI or foreign individual living in Oman who has any financial transaction or tax obligations can apply for a PAN card. Considering this, here is who in Oman needs an Indian PAN card:

• NRIs earning taxable income from India, such as
  • Capital gains
  • Rental income
  • Dividend or interest income
• Individuals investing in Indian shares, mutual funds, or bonds.
• OCI cardholders holding or investing financial assets in India.
• Applicants opening or have an NRE or NRO bank account in India.
• NRIs or foreign citizens selling or buying property in India.

Apart from this, a PAN card is also required for items such as selling a car, a two-wheeler, or immovable property in India valued at INR 10,00,000 and more. 

This was all about who needs an Indian PAN card in Oman. Moving ahead, now let's know the benefits of having a PAN card for NRIs in Oman. 

Benefits of Having an Indian PAN Card in Oman 

The benefits of having an Indian PAN card for NRIs in Oman are as follows:

• It helps NRIs in fulfilling their tax obligations with complete compliance in India. It is also one of the key reasons for applying for this card.
• A PAN card also helps NRIs to open an NRE or NRO bank account. It is one of the mandatory documents that NRIs need to submit to open an account with an Indian bank.
• For trading purposes, a PAN card also plays a key role. It helps you open a demat account.
• Through a PAN card, you can simply sell or purchase immovable assets. During a purchase or sale of any asset valued at INR 10,00,000 or more, you need a PAN card.
• If you are a director or partner in an Indian company or LLP, having a PAN is mandatory.
• Through a PAN card, you can reduce your TDS rates and claim DTAA benefits. 
• Apart from this, as a PAN card is issued by the Income Tax Department, NRIs can also use it as an ID proof. 

These were some of the key benefits of having an Indian PAN card for NRIs in Oman. Moving further, now let's know the PAN card eligibility criteria. 

PAN Card Eligibility Criteria

As per section 139A of the Income Tax Act, any individual or entity that is liable to pay tax in India can apply for a PAN card. Considering this, let's know the PAN card eligibility criteria:

• You are an Indian citizen (NRI or resident) holding a valid Indian visa.
• OCI/ PIO/ foreign national having a business or property in India.
• Your firm/ company has registrations or taxable presence in India.

This was all about the PAN card eligibility criteria. Further, an individual/ entity can hold only one PAN card; having multiple PAN cards may result in penalties. Now, moving ahead, let's know the documents required for applying for a PAN card in Oman. 

Documents Required for Applying PAN Card in Oman

The documents required for PAN card from Oman are as follows:

PAN card application form 

• Form 49A: For Indian residents and NRIs
• Form 49AA: For OCIs, PIOs, and foreign citizens

Proof of Identity

• Copy of Passport (Mandatory for NRIs)

Proof of Date of Birth 

• Passport copy (Also serves as DOB proof)

Proof of Overseas Address

• Bank statement
• Oman residence permit
• Utility bill

Photograph

• Two passport-size, colored photographs

All the above-mentioned documents should be legible, clear, self-attested, and submitted as per the PAN card application guidelines. Moving further, let's know how to apply for a PAN card from Oman. 

How to Apply for a PAN Card from Oman?

The process to apply for a PAN card varies as per the application type and the application mode you choose. To provide you with an idea, here are the steps to apply for a PAN card from Oman online, based on your services:

Process to Apply for a New PAN Card in Oman

Here is how you can apply for a new PAN card in Oman:

• Choose the Application Portal and Form: Visit either the Income Tax Department/ Protean/ UTIITSL website and choose "PAN-NRI/Foreign." Use Form 49A (Indian citizens/ NRIs) or Form 49AA (foreign entities/ citizens).
• Fill Out the Form: Mention the required details, Oman address as communication, and NRI AO code. 
• Submit Documents: Scan and upload all the stated documents in the accurate format and certify that you do not miss out any papers.
• Pay the Fee: Using the available online payment options, pay the fee shown on your screen. 
• Received Acknowledgment Number: Upon successful payment confirmation, you will receive a 15-digit unique acknowledgment number. It further assists you in tracking your application. 

Application Process to Apply for a Lost PAN Card

In case of a lost or damaged PAN card, you can reissue it with the same number. Here is how you can apply for your PAN card in case of loss:

• On the official site (UTIITSL/ NSDL), choose the "Reprint/ Change in PAN Data" option. 
• Mention the details of your existing PAN card and upload the requested documents.
• Submit ID and address proofs, and a FIR copy of your lost PAN card (optional).
• Pay the PAN card fee shown on your screen.
• Within the given processing time, your duplicate PAN card will be issued to you with the same PAN number. 

Process to Do Corrections in the PAN Card

If you have some errors in your existing PAN card, like name, photograph, birth date, or any other details, you can use the PAN correction/ change services. Here is how you can apply to update your PAN card:

• On the portal (UTIITSL/ NSDL), select the "Change/Correction in PAN" service.
• Mark the fields you need to change and fill out the correct details as per your existing valid documents.
• Scan and upload the documents as proof to show the correct information.
• Pay the amount shown on your screen using the available online payment options.
• After verification, your PAN card will be updated with the rectified details.

This is how you can make corrections in your existing PAN card. Now, moving ahead, let's know the PAN card fees and processing time in Oman.

PAN Card Fees and Processing Time in Oman

A PAN card fees for NRIs in Oman vary as per the application type, payment method, and several other factors. To provide you with an idea, the table below lists the PAN card fee based on your type of application service you choose:

Further, the processing time for a PAN card application for an individual in Oman generally takes 7 to 15 business days for the e-PAN card. Additionally, one to three weeks for the physical PAN card to be delivered overseas. Also, the application processing time depends on the application method and the document accuracy. 

So, this was all about the PAN card fees and processing time in Oman. Moving further, let's know how to check PAN card status online in Oman. 

How to Check PAN Card Status Online in Oman?

Here is how you can check your PAN card status in Oman online:

• Step 1: Visit the official NSDL portal.
• Step 2: Navigate to the "Track PAN Status" option on the screen and click on that.
• Step 3: After clicking on the "Track PAN Status" option, you will see the "Application Type" section. Click on that and choose the "PAN New/ Change Request" option.
• Step 4: Now, mention the 15-digit acknowledgement number you received at the time of your PAN application submission.
• Step 5: Fill out the stated captcha code and click on the "submit" option.
• Step 6: Your PAN card status will appear on your screen. 

Additionally, you can also use the Income Tax Department and UTIITSL websites to track your PAN application. Now, moving ahead, let's know the tax and compliance importance of the NRI PAN card for NRIs. 

Tax and Compliance Importance of NRI PAN Card

Even as an NRI, due to your financial connections in India, you need to follow the tax laws and financial regulations of India. In these circumstances, your NRI PAN card becomes an essential identity proof for your financial transactions in India. Here is how a PAN card helps you:

• A PAN card is a vital document you need when you file ITR on your taxable income in India.
• You require a PAN card to claim the TDS refunds deducted on capital gains, interest, rent, or dividends.
• Under section 206AA of the Income Tax Act, a PAN card helps avoid paying higher TDS, i.e., 20% or more.
• Without a PAN card, you cannot invest in the Indian financial market. It is the basic investment requirement. 
• Apart from this, a PAN is also used for accurate income reporting and regulatory compliance in India.
• It helps the tax officials to track your financial transactions. 
• Vital for smooth cross-border financial transactions from Oman to India.

These were the key reasons why the NRI PAN card is vital for individuals dealing with Indian taxes. 

Final Thoughts

Lastly, for individuals, a PAN card is more than an identity proof. It is a key through which they unlock their financial freedom in India. Apart from this, having a PAN also helps you in filing ITR and claiming the available tax refunds. Considering this, you can simply apply for your NRI PAN card from Oman using the NSDL or UTIITSL website and enjoy the associated benefits with it.

Moreover, by connecting with Savetaxs, you can apply for your NRI PAN card without any issue. We are a team of experts who have years of experience in this field. We can make the whole PAN card procedure simple for you. Apart from this, if you want, we can also assist you with your investment and tax planning in India.