Rationalisation process for obtaining PAN by Investors
Summary
This circular rationalizes the process for investors to obtain PAN verification by allowing online checks. Intermediaries are permitted to verify PANs on the Income Tax website without requiring original PAN cards if other identity proof is presented. The directive is issued under Section 11(1) of the SEBI Act, 1992 to protect investor interests.
Text
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.
Source: SecMarx — Rationalisation process for obtaining PAN by Investors. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.