New Delhi: Seeking to quickly resolve the controversial tax issue facing foreign portfolio investors, the CBDT today said all claims coming under the ambit of DTAAs will be settled within a month of being filed.
“It has been decided that in all cases of Foreign Institutional Investors (FIIs) 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,” the Central Board of Direct Taxes (CBDT) said. The Tax department has sent notices in 68 cases to FIIs for payment of dues totalling Rs 608.83 cr towards Minimum Alternate Tax (MAT).
