Rules for Operationalization of Fund Manager Regime
01 March 2016
The favorable regulatory and tax environment of certain offshore jurisdictions provide an impetus to fund managers managing offshore funds, to locate outside India. In order to compete with the favorable tax regimes of such countries and facilitate location of fund managers in India by providing tax certainty, section 9A in the Income-tax Act, 1961 (‘IT Act’) was inserted vide Finance Act, 2015.