FPI PAN application: Sebi says CBDT clarifies rules under Income-tax Rules, 2026

Sebi said on Friday that the CBDT has issued clarifications to help Foreign Portfolio Investors get Permanent Account Number PAN. Sebi said overseas investors faced issues under revised PAN application forms. The regulator said the steps aim to keep onboarding smooth. Sebi said it raised stakeholder concerns with CBDT. CBDT then clarified how FPIs can fill key fields.

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CBDT had on March 20 notified updated PAN forms under the Income-tax Rules, 2026. The revised forms added new fields, including Taxpayer Identification Number TIN. They also sought details of Representative Assessee RA or Authorised Representative AR. CBDT also made some fields mandatory, including mobile number. Sebi said these requirements created practical hurdles for FPIs.

CBDT clarifications for FPI PAN application fields

Sebi said CBDT clarified that the authorised signatory name in the Common Application Form CAF is enough. This name can be used for the RA/AR field. Sebi added that no supporting documents for the authorised signatory are needed. Sebi also said the signatory’s liability stays limited to the PAN application purpose.

Sebi said FPIs can share the authorised signatory’s address, phone number and email ID in RA/AR contact details. Sebi said this applies when those details are available. If such details are not available, FPIs can provide their own contact details. Sebi also said FPIs can use the FPI registration number if signatory PAN, Aadhaar or passport is unavailable.

CBDT clarifications for FPI TIN and contact details

Sebi said CBDT has allowed applicants to enter 0000000000 in the TIN field. This applies when a Taxpayer Identification Number is not used in that jurisdiction. Sebi also said a landline number can be given when an FPI mobile number is unavailable. These options address common gaps in investor information across countries.

"The above measures resonate with the continuous efforts towards providing ease of onboarding to FPIs,\" Sebi said. Sebi noted that FPIs use one Common Application Form for several steps. These include Sebi registration, opening bank accounts, and opening demat accounts. The same form is also used for PAN issuance, Sebi said.

With inputs from PTI