IT returns of FII, FPI to be processed on certain conditions

New Delhi, Dec 10 (IANS) The central government on Thursday clarified the income tax returns filed by foreign institutional investors (FII) and foreign portfolio investors (FPI) will be processed on certain conditions even if the balance sheet and profit/loss account are not filled.

In a statement issued here, the union finance ministry said notices of defective returns were issued to FIIs and FPIs where balance sheet and profit and loss account were not filled, but such returns will not be treated as defective in cases where the FII and FPI is registered with Securities and Exchange Board of India (SEBI); has no permanent establishment or place of business in India and has provided basis information needed under section 139 (9)(f) of the Income Tax Act if there is a business income.

In all cases where the SEBI registration number is provided, the returns for assessment year 2015-16 are being taken up for processing.

For previous assessment years where the above information is not available in the tax return, FII/FPI may provide such details in their online response on the e-filing portal of the Income Tax department ( to the previously issued notice under section 139(9).

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here