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CBDT issues clarification to FII/FPIs regarding notices of defective returns | Canindia News

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CBDT issues clarification to FII/FPIs regarding notices of defective returns

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CanIndia New Wire Service 0 comments

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New Delhi, Dec 10 (ANI): Notices of defective returns were issued under Section 139(9) of the Income-tax Act to Foreign Institutional Investors/Foreign Portfolio Investors (FIIs/FPIs) in cases where balance sheet and P and L account were not filled.

In order to overcome this difficulty, it is clarified that such returns will not be treated as defective in cases where the FIIs/FPIs are registered with SEBI or has no permanent establishment/ place of business in India

Along with this, the notice should also provide basic information required under Section 139(9)(f) of the Income-tax Act, if there is business income

All such cases, where the SEBI registration number has been provided by the FIIs/FPIs in the return for AY 2015-16 are being taken up for processing at CPC Bengaluru. For previous assessment years where the above information is not available in the income tax return, FII/FPI may provide such details in their online response on the e-filing portal of the income-tax department (www.incometaxindiaefiling.gov.in) to the previously issued notice u/s 139(9) of the Income-tax Act. (ANI)

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WordPress database error: [Table './canin502_db/wp_postmeta' is marked as crashed and should be repaired]
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WordPress database error: [Table './canin502_db/wp_postmeta' is marked as crashed and should be repaired]
SHOW FULL COLUMNS FROM `wp_postmeta`

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