Transact for insurance premium for NRI having no pancard

Circulars 316 views 1 replies

NRI person wants to pay his insurance premium

at cash counter of the company. Company asks to provide PAN details as premium exceeds 50000/-. Person has no PANCARD as being an NRI . He owns PR status of foreign country and he is a businessman there.

what can be done.?

Replies (1)
PAN is compulsory under IRDA
NRI has to obtain PAN card


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