 "cash, fund, money, Rupee, growth, transaction, investment, sell, buy, market, acquisition, stake, share, stock, incentive")
The Budget may tweak norms that aim to make it easier for fund managers overseeing offshore India-focused funds to relocate to the country.
Section 9A of the Income Tax Act, introduced on April 1, 2016, provides for a special taxation regime to such funds. Under this, the fund management activity of an eligible investment fund does not constitute a business connection in India. The fund is not resident in India merely because its fund manager is located in India.
The objective of introducing this Section was to ensure offshore funds do not pay incremental tax just because those are managed out of
