Claim of treaty benefits by Foreign Institutional Investors under the provisions of Double Taxation Avoidance Agreements - Income Tax - F. No. 500/36/2015-FTD I

F. No. 500/36/2015-FTD I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Foreign Tax Tax Research Division-I Dated the 24 th April, 2015 To All Principal Chief Commissioners of Income Tax Madam/Sir, Subject: Claim of treaty benefits by Foreign Institutional Investors under the provisions of Double Taxation Avoidance Agreements-regarding 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. Accordingly, it has 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. This may be brought to the notice of all concerned for strict compliance. Yours faithfully, (Dinesh Antil) Dy. Commissioner of Income-tax(OSD) [FT TR-I(2)] Copy to: 1. Chairperson, Members and all other officers in CBDT of the rank of Under Secretary and above 2. Database Cell for uploading on IRS Officers website 3. Media Coordinator and Official Spokesperson for CBDT 4. Guard File