Clarification regarding defective notices issued to FII/FPIs

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Full Text of the Document

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....ective 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&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: i) is registered with SEBI ii) has no....