OBTAINING PAN NOW EASIER FOR NRIs

Obtaining a Permanent Account Number (PAN) for Indians living abroad, a foreign citizen, or a company, trust or firm not having an office in India has become easier. The Income Tax department has clarified that it will no longer insist on details of a “representative assessee” while accepting PAN applications from the aforementioned categories. The tax department has issued a circular to the two designated PAN service providers – UTI Technology Services Ltd. and National Securities Depositories Ltd. – clarifying on the revised guidelines for allotment of PAN to these categories.