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To ease the PAN verification process at the time of account-opening of FPIs, markets regulator Sebi today said intermediaries can verify the PAN of FPIs online through a website authorized by the Income Tax department. However, FPIs would have to provide the copy of the PAN card to their intermediaries within 60 days of account-opening or before remitting funds out of India, whichever is earlier.
The move is based on representations received from stakeholders and is aimed at easing the process of PAN verification for FPIs at the time of account-opening. "Based on representations received from stakeholders and to further ease the PAN verification process at the time of account opening of FPIs, it is decided that the intermediaries can verify the PAN of FPIs online from website authorized by Income Tax department at the time of account-opening for FPIs," Sebi said in a circular.
To ease the PAN verification process at the time of account-opening of FPIs, markets regulator Sebi today said intermediaries can verify the PAN of FPIs online through a website authorized by the Income Tax department. However, FPIs would have to provide the copy of the PAN card to their intermediaries within 60 days of account-opening or before remitting funds out of India, whichever is earlier. 
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