Government of India
Ministry of Finance
Department of Revenue
(Central Board of Direct Taxes)
New Delhi, the 16th March, 2016
Subject: Rules in respect of fund manager regime under section 9A of the Income-tax Act, 1961-reg.
Section 9A of the Income-tax Act, 1961 (the Act) provides for special taxation regime with effect from 01.04.2016 to facilitate location of fund managers of off shore funds in India. Under this regime, the fund management activity carried out through an eligible fund manager in India by an eligible investment fund does not constitute business connection in India of the fund and also does not lead to the residence of the fund in India.
The Rules for operationalisation of the provisions of section 9A of the Act have been inserted in the Income-tax Rules, 1961 (the Rules) vide Notification No. SO 1101(E) dated 15.03.2016. These rules, inter alia, provide for:
Notification No. SO 1101(E) dated 15.03.2016 is available on the website of the Department www.incometaxindia.gov.in
Pr. Commissioner of Income Tax
(Media and Technical Policy)
and Official Spokesperson, CBDT
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