SEBI and the Central Board of Direct Taxes (CBDT) have relaxed PAN-related onboarding rules for foreign portfolio investors after complaints that the revamped Income-tax Rules and March PAN forms made compliance overly complex across jurisdictions. The updates simplify documentation, contact disclosures and taxpayer identification fields. CBDT clarified that the authorised signatory name in the common application form is enough, liability is limited to PAN application, and optional fallbacks like using FPI registration number or “0000000000” for missing TINs are allowed.
The CBDT’s Central Action Plan 2026-27 signals major upgrades for taxpayers, including a more technology-driven TDS framework and faster resolution of tax disputes. The roadmap targets streamlined processes, improved efficiency and stronger taxpayer services, aiming to make outcomes more predictable and governance more responsive across the tax administration system.
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Sebi is in talks with the CBDT to simplify FPI tax compliance. The regulator is proposing a framework that lets foreign portfolio investors appoint authorized signatories themselves, easing a key procedural hurdle. If approved, the change could reduce friction for FPIs dealing with tax-related documentation and compliance requirements across Indian markets.
The CBDT has introduced new 2026 rules requiring a Document Identification Number (DIN) on virtually all official income tax correspondence to taxpayers, including notices and orders. Issued via a March 31, 2026 circular, it replaces earlier 2019 guidelines and aims to help taxpayers verify authenticity. Limited exceptions are allowed but require post-facto approval within 15 days.
The Central Board of Direct Taxes has notified new PAN correction forms for updating PAN-related details. Individuals must use PAN CR-01 while non-individuals will file PAN CR-02. The changes take effect from April 1, 2026, with both online and offline submission options. Applicants must submit accurate PAN details and a copy of their PAN card, and Aadhaar is mandatory for most users.
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