FPIs have remained net sellers for the previous two months, pulling out Rs 5,920.02 crore in August and Rs 2,985.88 crore in July

This differential regime existed even prior to the 2019 Budget, CBDT said.

FM's move expected to provide relief to many big-ticket FPIs that participate in cash markets.

The govt should levy the increase in surcharge on those intended to be targeted, the industry body has said.

Govt exploring various options, the one considered most effective & legally feasible to be taken up.

Wish list: Surcharge rollback, removal of LTCG tax on shares & tax policy certainty.

The government had proposed to increase surcharge on the super rich in Budget 2019.

Directive could be issued under Sec 119 of I-T Act to provide reprieve to FPIs & AIFs registered as trusts.

FPIs have sought roll back of surcharge, as a confidence boosting signal from Modi government.

FPIs being subject to increased surcharge will revisit their strategies in Indian markets.

Government is considering some relief for FPIs from the super-rich surcharge levied in the budget.

There has been an outcry among FPIs after the budget announcement.

One of the options was to go in for increase as such but that was not considered to be favourable.

FinMin is trying to find out why FPIs are using the trust structure and how this benefits them.

Finance Minister Nirmala Sitharaman in her maiden budget hiked the surcharge on income tax paid by super-rich individuals.

The effective rate of tax would now be 39 per cent on income of Rs 2 crore-Rs 5 crore.

Experts said some FPIs follow trust structure and hence would be classified as AOPs