Rationalisation process for obtaining PAN by Qualified Foreign Investors
CIRCULAR no. MIRSD/01/2013, dated 4-1-2013
1. Please refer to SEBI circular No. MIRSD/16/2011, dated August 22, 2011; MIRSD/SE/Cir-21/2011, dated October 5, 2011 and MIRSD/11/2012, dated September 5, 2012.
2. With a view to bring about operational flexibility and in order to ease the PAN verification process, the intermediaries may verify the PAN of their clients online at the Income Tax website without insisting on the original PAN card, provided that the client has presented a document for Proof of Identity other than the PAN card.
3. This circular is issued in exercise of powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.