Income tax vide Notification No. 11/2020 dated 7th February 2020 directed a procedure for allotment of PAN by Foreign portfolio Investors.
A Common Application Form (CAF) 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).
Application for allotment of Permanent Account Number (PAN) will be uploaded in CAF as specified by the SEBI. After due examination and generation of FPI Registration certificate, SEBI will forward data in form 49AA to prescribed Income Tax Authority through the signature of Authorised Signatories of its Designated Depository Participants (DDPs).