Now, FPIs need to fill only one form for registration, bank a/c, demat and PAN – The Economic Times

  • Press Release|
  • < 1 minute
  • By Taxmann
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  • Last Updated on 27 October, 2020
Naveen Wadhwa, DGM, Taxmann said:
As per the form, for KYC purposes, the individual custodian/designated depository participants (DDPs) can seek additional information based on their independent evaluation and risk classification of the FPI applicants “on the basis of multiple parameters such as home jurisdiction, type of entity, nature of business”. 
Commenting on the government’s move, Naveen Wadhwa, DGM, Taxmann, said integration of multiple compliance forms is a great initiative. 
“This is similar to the new company incorporation form introduced last year which enables the applicant to apply for PAN/TAN at the time of incorporation of company itself,” he said. 

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