"The government is not presently considering tax on FIIs," minister of state for Finance S S Palanimanickam said in the Rajya Sabha.
FII investments in Indian securities market are governed and regulated by the provisions of SEBI Act, 1992, SEBI (Foreign Institutional Investors) Regulations, 1995 and FEMA, 1999, he said.
FIIs are also required to ensure compliance with the guidelines, directives and instructions issued by SEBI or the RBI or the union government, the minister said.