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Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
 ….

New Delhi, the 24th April, 2015

Press Release

It has come to the notice of the Board that several Foreign Institutional Investors 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.

2. 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.

3. The officers concerned have been directed accordingly.

(Rekha Shukla)
Commissioner of Income-tax
(Media and Technical Policy)
Official Spokesperson, CBDT

CBDT-Decision on the Claims of Foreign Institutional Investors FIIs Seeking benefits under DTAAs, to be within one month |24-04-2015|