Notification No. 17/2020 [F.No.173/10/2014-ITA-I] / SO 1057(E)

Last updated: 18 March 2020

Save Share

Quick Summary

This notification specifies that a non-resident, acting as an Eligible Foreign Investor in line with SEBI's circular dated 4th January 2017, will be considered a Foreign Institutional Investor (FII). This applies to transactions involving securities on a recognised stock exchange within an International Financial Services Centre (IFSC), provided the payment is made or is due in foreign currency.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 13th March, 2020 S.O. 1057(E).In exercise of the powers conferred by clause (a) of the Explanation to section 115 AD of the Income-tax Act, 1961 (43 of 1961), the Central Governm

Daily Limit Reached

You have reached your daily limit of 2 Free Notice & Circular

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Broadcasts
Daily E-Newsletter
Unlimited Notice & Circular Access

BEST VALUE

2 YEAR PLAN

3,499

(Inclusive of GST)

1 YEAR PLAN

1,999

(Inclusive of GST)

Buy CCI PRO Now

Already a PRO member? Login here for an ad-free experience.

FAQ :

A non-resident Eligible Foreign Investor operating according to the SEBI circular IMD/HO/FPIC/CIR/P/2017/003 dated 4th January 2017 is deemed an FII.

This notification covers transactions in securities made on a recognised stock exchange located in any International Financial Services Centre (IFSC).

The consideration for such transactions must be paid or payable in foreign currency.

An IFSC has the meaning assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005.

'Securities' has the meaning assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956.