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.
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