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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.
February, 12th 2020
                        F. No. Pro DGIT(S)IADG(S)- 1/FPI/04/20 19-201Part
                                       Government of Indi a
                                        Ministry of Finance
                                   Central Board of Direct Taxes
                                Directorate of Income-tax (Systems)

                                    Notificat ion    __of2020.
                                                    11.
                                                                                . ~
                                                                      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 accoun t 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) sha ll specify the classes of persons, forms
and format along with procedure for safe and secure transmission of such forms and formats in relation to
furnishin g 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            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).

4.    Format
                            ---
                           Xml
                                                    -




                                                                      ~·I-
                                                               (Su brata Kumar Dash)
                                                    Pro Director General of Income-tax (Systems)
                                                                     New Delhi.

Cop y to:

     I. Chaimlan and Mcmbers, C EDT, North Block, New Delhi.
     2. All Chief Commissioners/Di rector General of Income-tax - w ith 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 DG IT (S) comer.
     5. ITEA publisher for uploading on /TEA portal.
     6. Department of Economic Affairs/SEEL
     7. Guard file.




                                                                           (Decpika Mitta l)
                                                                      Add!. DGlT (Syste ms)- 
                                                                              New Delhi.

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