How to apply for pan card from United Arab Emirates

Permanent Account Number or PAN card is unique 10 digit identity number that is allotted to each and every tax payer by Income tax department under the supervision of Central Board of Direct taxes. It serves as an important identity proof in all government and non-government departments and has to be presented to banks and other institutions as your proof of identity.

There are certain set of guidelines for applying pan card and these must be followed by every person who applying it. Also, there are certain set of documents that are to be presented as proof while applying it.

For person from United Arab Emirate (UAE), referred as NRI below are steps that are to be followed while applying Pan card:

• An application through Form 49AA must be made in case of new Pan card and in case they have to apply for any correction in Pan card or reprint of Pan card in prescribed format, that is same for all Indians and NRIs. All these forms can be filled and submitted online through websites – UTIITSL and NSDL. An acknowledgement copy with 15 digit number on submitting the form is retrieved and a copy of this is sent to the designated address along with other documents.
• Two recent photographs are needed and are to be pasted in the space provided in the acknowledgement form and a copy of passport of bank statement of UAE, copy of Non Resident Rupee (NRE) and bank account statements reflecting at least two transactions in six months are duly to be submitted after attesting them.
• The signed form along with all the above stated documents should reach the designated address within 15 days of online application. If the payment is made by demand draft, the pan card is issued when the payment is realized and then transmitted to the communication address – be it residential or office, if they do not have any Indian address of their own.
• If the communication address provided by UAE applicant is within India, the fees are Rs. 107 and if it is outside India, the fee is Rs. 989. This fee is inclusive of the application fees and dispatch amount.
• In case of online application, the fees may be paid via debit/credit card or via Net banking. Demand draft favoring the UTIITSL and NSDL can be dispatched along with the documents and form.
• Even through any Company they can apply for Pan – Company can be any private or government but the charges of private company are higher and the services provided by them are excellent.
• In case they make online application, person from UAE will have to send two colored photographs affixed on duly signed hard copy of application or on part of application or on some contents of application. In case all the copies of applications are made online then photographs and signatures will be required by the service provider companies via post or couriers through semi online service.
• The delivery of the Pan card by such a person can be transpired in India and for that he has to have eligible proof of local address of India.
• NRI has the provision to keep and maintain more than one Pan card of the same Pan No.  For more info:- Alankit Group Dubai

Safety Tips for Your PVC Aadhar card

With Aadhar card being privatized, efforts are being made to make it more machine readable in other words making it a medium capable of storing data in format readable by mechanical device. An effort in this direction has made government introduce PVC or Plastic Aadhar Card.

PVC  Aadhar card is printed form of Aadhar information on plastic sheet that serves or has the same value as the copy of original card and is very easy to maintain. It also acts as an identity card for all government and private purposes.

It has very commendable benefits:

Strong, durable and can remain intact over long period of time
Machine readable and bar coding friendly
It is water proof so chances that card gets spoiled is minimal
It is very easy to carry as it can be stored in wallet or pocket
Card security is increased with quality

The Aadhar has become the mandatory document for all the citizens of country and Government of India is building a big ecosystem around your Aadhar card and linking almost every vital transaction with it so it is advisable to keep it safe.

This card was originally printed on standard glossy paper no doubt perfect but the paper is prone to damage and there are chances that it gets torn over time. So PVC card is better option to go for as one can easily carry it in wallets and it can lasts longer than the paper printed one.

Reasons why one should prefer PVC card:

1. Easy to carry and more durable
2. The original paper printed Aadhar card can be kept safe at home and for any authentication purpose PVC card is best to carry
3. In case you have lost your Aadhar card and need a duplicate one
4. It is water proof card.

Here are few safety tips to safeguard your Aadhar card:

1. The Xerox of this card will not be used in most circumstances
2. The card has to be in machine readable condition all the time
3. It should not be folded
4. The Bar codes – ( an optical machine readable data usually describing something about the object that carries the bar code) are sensitive so one should not put any scratch on them or damage them with pen or other instrument
5. Always store the card at room temperature
6. For all round safety just put the card in nice pouch and store the card in it
7. Only when you intent to use it for authentication purpose carry the Aadhar card with you
8. The  QR code could not be read with naked eyes so once the QR code gets damaged the Aadhar card will lose its value
9. And once the Aadhar is lost as of now duplicate cards are not issued

With the above tips you can preserve your important document- PVC Aadhar card safely and in good condition for long period of time.

List of Pension plans in India for NRI

In order to make NRIs feel at home and to appreciate their investment in Indian economy, Modi government has come out with new policies and schemes that recognize NRI’s contribution and make them feel full members of the Indian community.

NRIs have to plan their retirement policies in advance and for that they have to bear in mind the future value of money, calculate their approximate expenditure and plan their standard of living accordingly.

For transpiring this mission the Indian government has announced alluring pension plans for NRI. Here are few pension plans for NRI:

Pension plans provided by various companies have become great investment options to NRIs. With the use of internet today there are umpteen numbers of NRIs choosing these policies. It is better to compare the investment plan and opt for the one that best fits your needs. As features of these policies often change it is better to consult investment advisor before making investments.

National Pension Scheme	Provide access to age old income security	Investment is routed through normal banking channel and the subscription amount is to be paid by NRI either by inward remittance through normal banking channels or out of the funds held in their NRE/FCNR/NRO account
SBI pension plans – SBI start smart	Provides entire sum that is payable to the nominee of the policy on the death of the policy holder	One time premium payment plan Unit linked plan offering specified returns on annual basis Option of choosing multiple low cost pension plans at once
SBI – Life Long Pension Plans	One can opt for plan providing only pension and plan that provides extra cover along with plan	It promises certain amount of percentage of premium every year It also has option to choose other insurance covers i.e. covers against accident
Aviva pension schemes- Avivia secure pension	Provides certain amount of premium for the first few years of the plan	The minimum sum assured starts from Rs. 1 lakh and there is no maximum limit on the sum assured.
CITI bank retirement plans- 3g Manu life	Option for NRI to choose to hold the amount accrued for about 5 to 10 years after the premium payment term Also he has the option of to choose the annuity payback turn from wide range of options in the years	Provides few special features apart from the regular ones Coupon on annual basis after the 10th year policy Offers insurance covers like critical care, disability etc Loan facility for medical purposes and this loan is free from interest  rate
Life Insurance cooperation- Jeevan Nidhi	Popular for annuity options Guarantees sum of assured sum for first few years of premium payment and later on certain sum as bonus obtained by participation of premiums in company’s profit	Special features like joint life, a percentage hike of 3 % on annuity, grace period etc Other insurance covers available along with this plan but they are optional
LIC – Jeevan Akshay VI	Onetime payment annuity purchase policy NRI must pay lump sum at once and can opt to get annuities for rest of life anytime	Annuities are payable on monthly, quarterly, half yearly or even on annual basis

The Importance of Aadhar Card for NRI 2017 and How to Enroll

Aadhar card is great facility from Central Government of India to issue Aadhar card to the NRI. This Unique identification card or UID has being developed for each resident of the country and has several benefits behind it for the citizens.

The main reason for owning this card for Indians is that it is accepted as identity proof for all legal, government and non government purposes. This data has all the information including biometric, demographic and other relevant information making it easy for recognizing the person.

Aadhar is available for free of cost to all citizen and residents of India, including NRIs and foreign nationals. While applying for this card NRI has to be physically present at any of Aadhar centre in India. There is no age limit for enrollment of Aadhar card and child of age less than 3 years need for give biometric information and in this case Aadhar card will be related to parents or guardians of that child. However child needs to give biometric when he is of 5 years of age. And if a child has enrolled between the ages of 5 yrs to 15 yrs, he has to give her bio metrics information again on attaining 15 years of age.

The main advantage of keeping this card is to prove identity of the person and such information of NRIs will make the database of unique identification authority of India more precise.

NRI also can apply for Aadhar card and he can apply by following procedures as:

• NRI must prove the basic NRI identity such as Green Card of USA or the any such document pertaining to the country where the individual is currently put up along with the proof from the establishment in which they are employed for establishing the genuineness of the NRI staying in particular country.
• Submit all the documents relevant like birth certificate, school certificate, photo identity etc. These documents are checked by the officials. Other documents such as their stay and service in the foreign country are needed to be produced in case of inquiry and these documents are mandatory for all NRIs.
• Scan the finger tip biometrically by visiting the Aadhar card enrolment centre personally. This is done by a responsible official at the centre who will scan all the ten fingers of the NRI and this is vital aspect to make perfect identity.  This data will be stored in government database of the citizen.
• Scan the iris biometrically at the enrollment centre. These scans will make the candidate’s identity unique among large population of India.
• Lastly photograph will be taken by web cam and added to overall Aadhar card documents and after this step candidate’s official document will be completed.

After finishing all the steps the Aadhar card will be posted at the residential postal Address within 3 months.
Importance of Aadhar Card for NRI in India:

Help for Family:

Aadhar card will help the family of NRI to experience smoother infrastructure to complete several government related  work

Strengthen ties

Aids in strengthening ties of Nation to its own citizen living abroad

Avail benefits of government services

It enables the NRI to avail benefits of various government services easily
Proof

Aadhar card is a valid proof for identification of NRIs in India

Benefits
Its number can be linked to services like banking, mobile phone connections and other Govt and Non Govt services. It is very convenient to use as it can be verified online

Speedy government work

With Aadhar card NRIs can process number of government work faster and easier.

How to apply for Pan Card from United Arab Emirate in India

Permanent Account Number or Pan Card is a unique 10 digit identification allotted to each tax payer by the Income tax department under the Supervision of the Central Board of Direct taxes. Today it serves as an identity proof in all government and non government departments and has to be presented in banks and other institutions as the proof of your identity.

Applying pan card in India has certain set of guidelines that are to be followed along with certain documents that are to be presented as a proof.

If a person from United Arab Emirate, often referred to as NRI in India wants to apply for pan card in India, here are certain steps that are to be followed:

1. An NRI will have to make application through Form 49AA in case of new PAN and will have to apply for correction pan card or reprint pan card in the prescribed format which is common for all Indians and NRIs. These forms can be assessed, filled and submitted online through the websites UTIITSL and NSDL. One gets acknowledgement copy with a 15 digit number on submitting the form. This copy is sent to the designated address along with other documents.
2. Two photo graphs need to be pasted in the space provided in the acknowledge form and copy of passport of bank statement of UAE, copy of NRE back account statement showing at least two transactions in six months are duly to be submitted after attesting them.
3. The signed form along with all the above stated documents should reach the designated address within 15 days of the online application. If the payment is made by demand draft, the pan card is issued on realization of payment and transmitted to communication address of the applicant. Also UAE person can provide their home town address – be it residential or office if they do not have any Indian address of their own.
4. If the communication address provided by NRI is within India, the fees are Rs. 107 and if it is outside India, the fee is Rs. 989; including application fees and dispatch amount. In case of online application, the fees may be paid via debit/ credit card or through Net banking. Also a demand draft favoring the UTIITSL and NSDL can be dispatched along with the documents and form.
5. Also NRI can apply online through any Company as per his/her satisfaction as he can make choices between private and government companies. Even though the charges of private companies are higher, the services provided by them are par excellence.
6. If online application is made, person from UAE will have to send two colored photographs affixed on duly signed hard copy of application or on the part of application or some contents of application however if all the applications are made online then photographs and signatures will be required by the service provider companies through post or courier and so it is also called semi online service.
7. The delivery of the pan card by such person can be transpired in India also provided he has eligible proof of local address of India.
8. NRI can keep and maintain more than one pan card of the same PAN No.

Simple investment benefits with opening your demat account

Dematerialized account (Demat) account is the account opened by the investor while registering with an investment broker or the sub broker. In simple words just as you deposit your money in your bank same why demat is to your shares. It is an account that holds all your shares in electronic or dematerialized form.

Just as bank account holds certificates of your financial instruments like shares, bonds, mutual funds, government securities and exchange traded funds and one cannot trade in stock market without the demat account.

How this account works:

1. Central depository: There are two depositories in India – CDSL and NSDL and both of them hold all the demat accounts. CDSL holds details of your share holding on your behalf as your bank.
2. Unique Number: Every demat account has unique number for identification purpose and this is the number that is needed to provide for transactions. The number aids the exchange and also the companies to recognize the investor and credit the shares in the investor’s account.
3. Depository participants: Access to central depository is provided by Depository participants or DPs. They act as intermediary between central depository and the investor. They could be banks, financial institutions or brokers as these are empowered to offer demat services.
4. Portfolio holding: This account holds all the securities. As and when the investor checks the account, complete details of the portfolio holdings and its details. These are updated automatically every time you conduct a transaction of buying and selling.

   Benefits of opening a demat account:

• Common Bank: Demat is not just for shares, but also for debt instruments like bonds and this helps you to hold all your investments in single account.
• Automatic update: Since it is common account one does not have to keep giving details like address every time you do transaction or every time you change the details. All these details are automatically available to companies with whom you conduct transaction.
• Odd- lot problem: Earlier shares were transacted in lots and a single or odd number of securities could not be transacted and now this issue is done away with.
• Delivery risks: Demat has also eliminated the risks of fake shares, thefts, deliveries that were wrong etc. As it is automated it has done away with lot of paper work. Also the time of delivery is minimized. Once your transaction is approved, the securities are automatically credited to your account.
• Cost reduction: Demat has drastically reduced the extra costs. Earlier when one transferred the securities, one has to incur the extra costs due to stamp duty and this is not a problem with demat form.
• Easy to hold: Paper certificates are prone to damage and tearing. Whereas in case of demat format no such problem is emerged. It is the most safe and convenient way to hold securities. You can have a nomination facility where as the investor can facilitate the transfer of shares in the event of death.
• There are no restrictions on transactions as with demat account one can sell or buy even a single share, which is not possible if the securities are in physical form as physical shares are stacked together collectively whereas demat shares are easily divisible electronically.
• Corporate benefits: The dividends, refunds or interests incase offered by the companies are automatically available to the Demat account holders. In addition corporate actions like bonus issues, right shares or stock spilt are automatically updated in Demat account of all the shareholders.
• Multiple accessing: This account is electronically operated and so it can be assessed using multiple modes. This account can be accessed through internet using a computer, mobile phones or any other smart device.
• Freezing: Here the demat holders can freeze their accounts for a certain period in case required. This option enables to prevent unexpected debit or credit in one’s demat account. This option is available for specific numbers of securities held in account.

10 benefits that is not possible without Aadhaar card in India

The 12 digit unique identification number that is issued by Indian government to every resident of India, serves as an identity proof and address for various government and official formalities. Any individual, irrespective of age and gender who is the resident of India satisfies the verification process.

There are various benefits of Aadhar card, however the following benefits one cannot avail without its possession:

• Aadhar based direct benefit Transfer (LPG subsidy): The 12 digit individual identification number of aadhar card is used to get the subsidy amount of LPG directly to the bank and this direct benefit transfer scheme is called pahal. For availing this benefit one need to visit your distributor of cylinder and get the Aadhar card linked to the 17 digit LPG consumer number. And once this is done the subsidy amount is directly credited to your bank account.
• Jan Dhan Yojana: This scheme of the Prime Minister is been regarded as the  Guiness world record holder scheme and this scheme – Pradhan Mantri Jan Dhan Yojana accepts only Aadhar card number as the only document sufficient to open the bank account. The benefits offered are Rupay card, free zero balance savings account, life and other insurances.
• Quick passport: The benefit of Aadhar card will enable you to get swift passport. With Aadhar card you can get passport in 10 days and under this format police verification will be done at later part as against previous rule requiring police verification that is time consuming and also as per new government rule if one requires passport, aadhar number is compulsory.
• Digital locker: The Digital locker scheme launched by government of India offers loads of benefits to the citizen. One can store all personal documents on the government server. Sign up process for Digital locker requires person to link his/her 12 digit Aadhar card number.
• Monthly pension: All pensioners from select states will now have to register their Aadhar card no to their respective department so that pension can be received on monthly basis. This positive move was taken by the government as there were cases where in the beneficiaries requesting the pension were found to be fake.
• Provident Fund: Provident fund money  will be given to the account holder who have registered their Aadhar number with employee provident fund organization (EPFO)
• Instant bank account: Opening a bank account requires umpteen numbers of documents to be presented but with aadhar card one can open bank account instantly. This one document is sufficient and worthwhile as compared to other documents for opening bank account. One is relieved to the headache and strain caused in producing bunch of documents to the bank.
• Student Scholarship: Students who receive scholarship from the government can get money only if the bank account of student is linked with their Aadhar number.
• MNREGA: The wages received under the Mahatma Gandhi National Rural Employment Guarantee Act is credited fully to the bank account of the workers linked with Aadhar card number.
• Digital life certificate: Aadhar card linked to this certificate is another positive move by the government. Under the name of Jeevan Praman for Pensioners this system will end the process where the pensioner has to be physically present at the Pension distributing agency to avail pension instead all the details of the pensioners will be accessed digitally by the agency.

Check New Pension scheme benefits and features

New pension scheme – New Pension Scheme is the voluntary contribution of retirement savings scheme. It has been framed to enable systematic savings during the subscriber working life.

This scheme is an attempt towards finding an apt solution to provide adequate retirement income to each and every citizen of India. NPS works in the following way:

1. Here individual savings is pooled in pension fund
2. All these funds are invested by Pension Fund regulatory and development authority that is managed by professional fund managers in sync with the approved guidelines of investment in varied portfolios that is of government bonds, bills, shares and corporate debentures.
3. All these contributions will grow and accumulate over the years based on returns earned on investment made.

It offers following benefits:

• This scheme offers spectrum of investment options and choice of pension fund managers for planning growth of investments in proper manner and witness the investment grow. Also individuals can switch from one investment option to another and from one fund manager to another and the returns are totally market related.
• Flexibility to select between active and auto choice for distribution: A subscriber can corner between active choice and auto choice for distribution of his contribution. In case active choice is selected the subscriber must indicate the percentage bifurcation between corporate and equity. The maximum investment allowed in equity is 50%.
• Simplicity: Opening this account with NPS provides Permanent Retirement Account Number which is unique number and it remains with the subscriber all through the lifetime. The scheme is divided into two tiers: Tier I – which is non withdrawal permanent retirement account in which accumulations are deposited and invested as per the option of the subscriber. Tier II –It is voluntary withdrawal account which is allowed only when there is active Tier I account in the name of subscriber. The withdrawals are permitted from this account as per the needs of subscriber.
• It is transparent and is cost effective system in which the pension contributions are invested in the pension fund schemes and the employees will be able to know the value of the investment on daily basis.
• It is easy and portable as each employee is identified by a unique number and has a separate PRAN will remain same even if the employee gets transferred to any other office.
• It is regulated by Pension Fund regulatory and development authority with transparent investment norms and regular monitoring and performance review of fund managers by NPS trust.

Benefits to corporate:

This scheme provides a platform to the corporate to co contribute for the Employees’s pension. Here the corporate can save expenses incurred on self administration of pension functions like setting up separate trust, record-keeping, fund management, providing annuity etc. Also they can exercise the choice of PFM along with investment pattern for its employees or leave the option to employee.

Benefits to subscribers:

NPS allows one to accumulate corpus from the age of 18 years for forty odd years irrespective of geographies and employers in one single PRAN account with minimal leakages in the form of withdrawals for competing consumption expenses, reap compounding effect of tax concessions and minimum fee, invest in corpus as per risk factor that is managed by professionally managed funds that generate optimum returns followed by smooth transfer of retirement wealth from accumulation phase as per the choice on reaching 60 years of age. The additional tax benefit of NPS as per the Income tax act 1961 is the best aspect of this scheme.

Salient features of NPS are:

Portable account: PRAN remains same irrespective of change in employment or geography
Online platform: Each subscriber gets log in ID and password of NSDL system
It offers option of service providers, funds, investment options, pension fund managers, annuity service providers and annuity plans
Subscribers can switch the service provider, fund, investment option and pension fund managers
Flexible contribution mechanism
Prudent regulation
Effective grievance management through CRA/PFRDA call centre etc.
Transparent investment norms
Very low operation cost

For more information:- Alankit Group

Why do we need a business plan?

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From Visually.

What are the Documents that need to be submitted along with the Withdrawal forms of NPS

NPS scheme offers two options to the investors – Tier I the investor cannot withdraw the amount of investment and this can be withdrawn on maturity i.e. 60 yrs. Tier II the investor can withdraw the amount any time by submitting certain documents.

The type and nature of documents to be submitted depends on the nature and the need of withdrawal. The withdrawals can be categorized in two broad categories:

1. NPS subscribers over 60 yrs of age and non government employee:

• PRAN card in original and in case the PRAN card is not available the subscriber needs to submit an Affidavit duly notified as the reasons why PRAN is not submitted.
• Evidence of birth date, age of evidence of the subscriber for purchase of annuity (Ex matriculation certificate or another educational qualification certificate clearly indicating date of birth.
• Identity proof and address to confirm with AML guidelines of the government
• Cancelled Cheque (containing the name of the subscriber, bank account number and IFSC code) or Bank certificate containing name, bank account number and IFSC code for direct credit or electronic transfer.
  2. NPS subscribers before attaining 60 yrs and other than government employees:
• Original copy of PRAN card and in case this is not available, the subscriber needs to submit an Affidavit duly notarized as to the reasons of non submission of the card.
• Cancelled Cheque (Containing subscriber name, Bank account number and IFSC code or Bank certificate containing name, bank account number and IFSC code for direct credit and electronic transfer.
• Proof of birth date or age of evidence of the subscriber for purchase of annuity i.e. tenth board exams certificate or any other board exam certificate stating the date of birth.
• Proof of identity and address to confirm with AML norms of the government.
  In case of death of subscriber additional document of death certificate in original and legal heir certificate or succession certificate issued by competent authority to be submitted.Withdrawal application forms for NPS:
• Government sector: Form 101, Form 102 and Form 103 and Form 401
• Subscriber under all citizen model: Form 301, Form 302 and Form 303
• Subscriber falling under Swavalamban scheme: Form 501 SS, Form 502 SP and Form 503 SD

India- towards becoming a Pensioned and Insured Society!

In the last two budgets, Government has taken substantial measures to transform India into a Pensioned and Insured Society, thus step by step moving towards a more liberal economy. People are encouraged to save & invest during their working life so when they retire they get a sizeable part of their savings as regular pension. The ongoing financial sector reforms have made significant progress in the spheres of banking, capital and currency markets and provides an opportunity to revamp the hitherto untouched sectors like insurance and pension.

Aadhar Card Downloads Touch 40 Crore Mark

Aadhar Card Downloads Touch 40 Crore Mark

The Unique Identification Authority of India officials revealed that number of Aadhar Cards downloads touch 40 crore mark on 2 May,2016. Even the rise in number of people downloading Aadhar cards from official portal of Unique Identification Authority of India per day at 6 lakh.

The authority has generated identity proof of 100.93 crore people as on May 2. The popularity of download of Aadhar Cards can be seen directly through its wide acceptance in India. Even Government is also taking consideration to issue Aadhar card to NRI’s also.