notification no. 11/2020 procedure of pan allotment through common application form caf along with registration of foreign portfolio investors fpis with sebl under department of economic affairs and kyc for opening bank and demat account

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F. No. Pro DGIT(S)I ADG(S)-1/FPI/04/20 19-201Part Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) Notification 11. __ of2020. . ~ New DeIhl" of February, 2020; Subject: Procedure of PAN allotment through Common Application Form (CAF) along with registration of Foreign Portfolio Investors (FPls) with SEBl under Department of Economic Affairs and KYC for opening Bank and Demat Account. Proviso to sub-rule (1) to rule 114 of Income Tax Rules, 1962 notified vide notification G.S.R. No. I 17(E) dated 9/02/2017, states that: "an applicant may apply for allotment of permanent account number through a common application form notified by the Central Government in thc Official Gazette, and the Principal Director General of Income Tax (Systems) or Director General of Income-tax (Systems) shall specify the classes of persons, forms and format along with procedure for safe and secure transmission of such forms and formats in relation to furnishing of Permanent Account Number (PA1\')". 2. A Common Application Form (CAl') for the purpose of registration, opening of bank and demat accounts and application for Permanent Account Number (PAN) has been notified for the Foreign Portfolio Investors (FPls) in India by the Ministry of Finance, Department of Economic Affairs (SEBf) vide notification F. No. 411 5/2016-ECB, dated 27101 /2020. 3. In exercise of the powers delegated by the Central Board of Direct Taxes vide notification G.S.R. No. 117(10) dated 9/02/2017, the Principal Director General of Income-tax (Systcms) lays down the classes of persons, forms, fonnat and procedurc for Permancnt Account Number (PAN) as undcr: S. Particulars No. I. Classes of persons to New Foreign Ponfolio investors (FPls) which Common Application Forma (CAF) will apply -- -- --- - 2. Applicable form Common Application Form (CAF) for Forcign Portfolio Investors (FPls) of Ministry of Financc, Dcpartmcnt of Economic Affairs (SEB!) notified vidc notification F. No. 4115/20 16-ECB, dated 27/01 /2020. 3. Procedure 4. Format Application for allotment of Permanent Account Number (PAN) will be uploaded in CAl' as specified by the Ministry of Finance, Department of Economic Affairs (SEB!). After due examination and generation of FPI Registration certificate, SEB! will forward data in form 49AA to prescribcd Income Tax Authority through the signature of Authorised Signatories of its Designated Depository Participants (OOPs). --- Xml - ~ ·I- (Subrata Kumar Dash) Pro Director General of Income-tax (Systems) New Delhi. Copy to: I. Chaimlan and Mcmbers, CEDT, North Block, New Delhi. 2. All Chief Commissioners/Director General of Income-tax - with a request to circulate amongst all officers in their rcgions/chargcs. 3. Web Managcr, "incomctaxindia.gov.in" for hosting on the websitc. 4. Database ccll for uploading on www.irsofficersonline.gov.in and in DGIT (S) comer. 5. ITEA publisher for uploading on /TEA portal. 6. Department of Economic Affairs/SEEL 7. Guard file. (Decpika Mittal) Add!. DGlT (Systems)- \ New Delhi.