SEBI Relaxes PAN Allotment Norms for Foreign Portfolio Investors

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  • Last Updated on 19 May, 2026

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SEBI PAN allotment norms for FPIs

Press Release No.30/2026, Dated 15.05.2026

The Securities and Exchange Board of India (SEBI), pursuant to discussions with the Central Board of Direct Taxes (CBDT), has issued clarifications to address operational difficulties faced by Foreign Portfolio Investors (FPIs) in obtaining Permanent Account Number (PAN) under the Income-tax Rules, 2026 and the newly notified PAN application forms.

The clarifications aim to simplify the PAN application process and facilitate smoother onboarding of FPIs in India.

1. Use of Authorised Signatory Details Permitted

SEBI has clarified that FPIs may use the details of the authorised signatory in fields relating to:

  • Representative Assessee; or
  • Authorised Representative

in the PAN application forms.

Further, supporting documents relating to such authorised signatories shall not be mandatory for this purpose.

2. Alternative Contact Details Allowed

In cases where details of the authorised signatory are unavailable, the following relaxations have been permitted:

FPI details may be provided in place of:

    1. Mobile number
    2. Landline number
    3. Email ID

This measure is intended to avoid procedural difficulties where authorised signatory-specific contact information is not readily available.

3. FPI Registration Number Can Replace PAN, Aadhaar or Passport Details

The clarification further provides that where PAN, Aadhaar or Passport details of the authorised signatory are unavailable, the FPI registration number may be furnished instead in the application process.

This relaxation is aimed at easing documentation requirements for foreign entities and their representatives.

4. Clarification on Taxpayer Identification Number (TIN)

SEBI has also clarified that where Taxpayer Identification Number (TIN) is not applicable, applicants may use “0000000000” in the relevant field of the PAN application form.

The clarification seeks to address technical validation issues faced during application filing.

5. Landline Number Allowed in Place of Mobile Number

To facilitate ease of onboarding of FPIs, the clarification additionally permits furnishing of a landline number in place of a mobile number in PAN application forms wherever required.

6. Objective of the Clarifications

The clarifications are intended to simplify PAN application procedures for Foreign Portfolio Investors and reduce compliance-related bottlenecks arising from documentation and technical requirements under the revised Income-tax Rules, 2026.

The move is expected to facilitate smoother registration and onboarding of FPIs while improving ease of doing business for foreign investors participating in Indian securities markets.

Click Here To Read The Full Press Release

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied