Tag Archives: defective

FII/FPIs returns will not be treated defective in certain cases

Clarification regarding Notices of defective returns issued to FII/FPIs Notices of defective 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… Read More »