Laws and sections by number or title, due dates, pages, and updates.
The Central Government directs that specific conditions under section 9A of the Income-tax Act, 1961 do not apply to certain investment funds. The exemption applies to an investment fund set up by a Category-I foreign portfolio investor. The investor holds registration under the Securities and Exchange Board of India Regulations. The notification takes effect retrospectively from September 23, 2019.
Key dates
Who is affected
Exceptions
Ask about this notification
2
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(ii)]
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 30th June, 2020 (INCOME–TAX)
S.O. 2148(E).—In exercise of the powers conferred by the proviso to sub-section (3) of section 9A of the Income-tax Act, 1961(43 of 1961), the Central Government hereby notifies that the conditions specified in clauses (e), (f) and (g) of the said sub-section shall not apply in case of an investment fund set up by a Category-I foreign portfolio investor registered under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, made under the Securities and Exchange Board of India Act, 1992 (15 of 1992).
[Notification No. 41/2020/F. No. 142/15/2015-TPL- Part (1)] NEHA SAHAY, Under Secy. (Tax Policy and Legislation Division)
Explanatory Memorandum : It is hereby certified that no person is being adversely affected by giving retrospective effect to this notification.
