No TDS on any income of an Category I and II Alternative investment fund (other than Business Income)

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY,

PART II, SECTION 3, SUB- SECTION (ii)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION NO. 51/2015

New Delhi, Dated- 24th  June, 2015

S.O. (E).- In exercise of the powers conferred by sub-section (1 F) of section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that no deduction of tax under Chapter XVII of the said Act shall be made on the payments of the nature specified in clause (23FBA) of section 10 of the said Act received by any investment fund as defined in clause (a) of the Explanation 1 of section 115UB of the said Act.

2.   This notification shall come into force from the date of its publication in the Official Gazette.

[F. No. 275/11 /2015-IT(B)]

(Sandeep Singh)

Under Secretary to the Govt. of India

———————-

Editorial Note-

Clause (a) of the Explanation 1 of section 115UB specifies the following Investment Fund
Section- 115UB. Tax on income of investment fund and its unit holders.
(a) “investment fund” means any fund established or incorporated in India in the form of a trust or a company or a limited liability partnership or a body corporate which has been granted a certificate of registration as a Category I or a Category II Alternative Investment Fund and is regulated under the Securities and Exchange Board of India (Alternative Investment Fund)Regulations, 2012, made under the Securities and Exchange Board of India Act, 1992 .

More Under Income Tax

Posted Under

Category : Income Tax (25362)
Type : Notifications (15376) Notifications/Circulars (30595)

0 responses to “Reg. TDS on any income of Category I & II Alternative investment fund”

  1. Avinash says:

    Has this been published in the official gazette? What is the effective date of the notification? As we have some payments scheduled for June 30, 2015 to a CAtegory I AIF, would like to know if TDS exemption would be available.

  2. BIBEKANANDA CHATTARAJ says:

    I DID NOT GET ANY RPLY TO MY QUESTION.

Leave a Reply

Your email address will not be published. Required fields are marked *