[ad_1]
MUMBAI : Markets regulator Sebi and the Central Board of Direct Taxes (CBDT) have removed some of the Income Tax Permanent Account Number (PAN)-related difficulties that foreign funds were facing in order to register themselves in India. The move is part of Sebi’s ease of investing initiative to simplify registration process for foreign portfolio investors.After CBDT notified new income tax rules and introduced new forms on March 20, FPIs raised some concerns relating to those rules and forms, and approached the regulator, a Sebi release said. Post this development, Sebi engaged with CBDT to address their concerns.CBDT has now clarified that in the common application form (CAF) which FPIs use to register with Sebi to open bank and demat accounts, in order to apply for PAN, the authorised signatory (AS) for the FPI can sign the document.Earlier rules had stipulated that the representative assessee (RA) or the authorised representative (AR) had to sign the CAF. The CBDT also allowed FPIs to use ‘0000000000’ for Taxpayer Identification Number (TIN) when TIN or its equivalent is not applicable for a jurisdiction, the Sebi release said.In the column for contact details, if the mobile number of the FPI is not available, landline number can be used, the release said. “If PAN, Aadhaar and passport number of the AS are available, the same may be furnished. In case these details are not available, the FPI registration number can be provided.”
[ad_2]
Source link
Reading this in segments because the day was busy, and the post survived the fragmented attention well, and a stop at blog66pain held up similarly under interrupted reading, content that can withstand modern distracted reading patterns rather than requiring a perfect block of focused time is increasingly the kind I prefer.
Really appreciate the absence of stock photos that have nothing to do with the content, and a quick visit to movlino maintained the same restraint, visual filler is a tell that the writing cannot stand on its own and the lack of it here suggests the team has confidence in their content quality alone.
Really appreciate that the writer did not assume I would read every other related post first, and a look at nuggetotter kept that self contained feel going where each piece can stand alone, accessibility for new readers is a sign of generous editorial thinking and this site has clearly invested in that approach.
Probably this is one of the better quiet successes on the open web at the moment, and a look at softbounty reinforced that quiet success quality, sites that are doing well without making a noise about doing well are the sites I most respect and this one has clearly chosen the quiet success path consistently throughout.