CBDT To Settle Fiis Claims Under Dtaa Provisions Within One Month Period
May, 01st 2015
PRESS INFORMATION BUREAU
GOVERNMENT OF INDIA
CBDT TO SETTLE FIIS CLAIMS UNDER DTAA PROVISIONS WITHIN ONE
New Delhi, April 27, 2015
Vaisakha 7, 1937
It has come to the notice of the Board that several Foreign Institutional Investors
(FIIs) receiving income from transactions in securities claim such income as exempt from
tax under the Income Tax Act, 1961(`the Act') by availing benefit provided in the Double
Taxation Avoidance Agreements(`DTAAs') signed between India and their respective
countries of residence.
Since the issue involved in such cases is limited, such claims should be decided
expeditiously. It has therefore been decided that in all cases of Foreign Institutional
Investors seeking treaty benefits under the provisions of respective DTAAs, decision may
be taken on such claims within one month from the date such claim is filed.
The officers concerned have been directed accordingly.