an OCI (Overseas Citizen of India) can acquire a PAN card. These scenarios are:
- If the non-resident Indian or Overseas Citizen of India is earning taxable income in India
- If they are trading in shares through depository or brokerage
- If they wish to invest in mutual funds
- If they want to purchase a property in India (for other than trading purposes)
To apply for a PAN card, OCI card holder will have to perform the following steps:
- Download and fill form 49AA from https://www.tin-nsdl.com/downloads/pan/download/Form_49AA.PDF