<h1>Defective Return Notices Issued to Foreign Investors; Clarification on Compliance u/s 139(9) for SEBI-Registered Entities.</h1> Notices of defective returns were issued to Foreign Institutional Investors and Foreign Portfolio Investors under section 139(9) of the Income-tax Act due to incomplete Balance Sheets and Profit & Loss accounts. It is clarified that returns will not be considered defective if the investors are registered with SEBI, have no Permanent Establishment in India, and have provided necessary information under section 139(9)(f). Returns for the assessment year 2015-16 with SEBI registration numbers are being processed in Bengaluru. For previous years, investors can update their information online in response to the notices.