THE CBDT has issued
a clarification regarding the notices recently issued to FIIs and FPIs with respect
to certain defects in their returns filed.
It
has been clarified that returns in which balance sheet and P&L account
were not filled will not be treated as defective when the FIIs or FPIs, without
a permanent establishment in India, are registered with SEBI and have provided
basic information required under section 139(9)(f) of the Income-tax Act,
if there is business income.
The returns for AY 2015-16 where SEBI registration number is provided will be taken up for processing at CPC, Bengaluru. For previous assessment years, where this information is not provided, t he clarification allows FIIs and FPIs to provide SEBI registration number, on the e-filing portal of the Income Tax department, in response to the previously issued notice u/s 139(9) of the Income-tax Act.
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