A new tax form can change how an exemption claim must be documented, especially when the exemption is conditional on furnishing prescribed information. The exemption for eligible Foreign Institutional Investors (FIIs) and the Bank for International Settlements (BIS) on income from government securities is conditional on furnishing prescribed information in the prescribed form and manner. For investors and tax professionals, the important questions are who qualifies, which income is covered, and what documentation or filing conditions apply. Before claiming an exemption, check the exemption provision, the form's filing conditions and the relevant notification. A new form is a compliance requirement, not an exemption available to every investor. #TaxUpdate #IncomeTax #FIIs #ForeignInstitutionalInvestors #BIS