Permanent Account Number requirement for NRIs/PIOs to operate BO and trading accounts; deadline December 31, 2006. Mandatory Permanent Account Number (PAN) compliance is required for operation of BO accounts and trading; NRIs/PIOs/foreign nationals previously allowed limited purpose BO/trading accounts without PAN must obtain PAN by December 31, 2006 or face account inoperability. Income Tax Department guidance permits PAN applications from persons outside India and foreign citizens based on passport and foreign bank account proofs, with procedural codes, AO guidance, courier charges, and disclosure requirements for service providers.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Permanent Account Number requirement for NRIs/PIOs to operate BO and trading accounts; deadline December 31, 2006.
Mandatory Permanent Account Number (PAN) compliance is required for operation of BO accounts and trading; NRIs/PIOs/foreign nationals previously allowed limited purpose BO/trading accounts without PAN must obtain PAN by December 31, 2006 or face account inoperability. Income Tax Department guidance permits PAN applications from persons outside India and foreign citizens based on passport and foreign bank account proofs, with procedural codes, AO guidance, courier charges, and disclosure requirements for service providers.
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