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Systematic Investment Plans (SIPs) up to Rs 50,000 exempt from Permanent Account Number (PAN) In accordance with SEBI letter no MRD/DoP/PAN/PM/1 dated 19 June 2009 issued to Association of Mutual Funds in India (AMFI) and subsequent guidelines issued by AMFI vide its circular no 35P/MEM-COR/4/09-10 dated 14 July 2009 in this regard, SIPs up to Rs 50,000/- per year per investor ie aggregate of investments in a rolling 12-months period or in a financial year ie April to March (hereinafter referred to as ' Micro SIP') shall be exempted from the requirement of PAN, with effect from 1 August 2009. Micro SIP will not be subject to common KYC process through CVL. Cle activation pctv center. This exemption shall be applicable only to investments by individuals (including NRIs but not PIOs), Minors and Sole proprietary firms including joint holders.


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HUFs and other categories of investors will not be eligible for this exemption. This exemption shall not be applicable to normal purchase transactions up to Rs 50,000/- which will continue to be subject to the PAN requirement.