On 24 April 2015, India's Central Board of Direct Taxes instructed its tax offices to process claims for tax treaty benefits by foreign institutional investors within one month of the claim being filed. This follows an announcement made 22 April 2015 that FIIs will be exempt from Minimum Alternate Tax (MAT) on capital gains recognized through 31 March 2015 if the FII is resident in a country with which India has a qualifying tax treaty in effect, although the instruction to the tax office on …