Ministry of Parliamentary Affairs · GODL-IndiaGovernment lists Bill in Parliament to replace Ordinance that exempted FIIs from tax
The government listed a Bill in Parliament to replace an Ordinance, promulgated in June, that had exempted foreign institutional investors (FIIs) and the Bank for International Settlements from capital gains tax and from tax on interest earned on their investments in government securities. The Bill seeks to give the exemptions statutory backing.
Nabka Insight
Replacing an Ordinance with a Bill and the tax treatment of FIIs in G-secs are polity plus economy crossover points.
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- A Bill was listed to replace a June Ordinance exempting FIIs and the Bank for International Settlements from capital gains tax.
- The exemption also covers tax on interest from their investments in government securities (G-secs).
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