CBDT provides exemption to eligible foreign investors

Central Board of Direct taxes has through a notification provided exemption to eligible foreign investors investing in the specified securities and non-resident investors/unit holders of Category III Alternative Investment Funds (AIFs) which are set-up in International Financial Services Centre (IFSC) from the requirement of obtaining a Permanent Account Number (PAN) (i.e. the Indian tax identification number) subject to satisfaction of prescribed conditions. The Notification is effective from 4 May 2021. Please access the notification here.