Is pan card mandatory for foreign directors

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Naveen Kumar Sharma (Querist)

28 August 2019 I'm working in a company which is a subsidiary of foreign company. There are five directors in the company out of which two are working and three are not working. These three directors does not receive any salary or remuneration from the Indian company .They come to India only for attending meeting etc. Please suggest whether we are required to obtain PAN card of these three directors also.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

28 August 2019 Yes, PANo is required to disclose in the Income tax return of the company,
especially if they are shareholders.

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

28 August 2019 Yes, PAN card required for these three directors.
Every person, whether resident or non-resident in India, who is a director in an Indian Company that has financial transaction of Rs. 250,000/- or more in a financial year will have to compulsory obtain Indian PAN card.

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Naveen Kumar Sharma

Naveen Kumar Sharma (Querist)

28 August 2019 Thank you so much sir.

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