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of <h1>Section 9A: Fund-management in India by eligible managers won't alone create business connection or make fund resident, subject to conditions</h1> Section 9A provides that fund-management activity carried out in India by an eligible fund manager on behalf of an eligible investment fund shall not by itself create a business connection or make the fund resident in India, subject to detailed conditions. An eligible investment fund must be non-resident, resident in a treaty country or notified jurisdiction, meet limits on Indian participation, investor-protection regulation, membership and concentration thresholds, corpus minimums, investment and activity restrictions, and prescribed remuneration to the manager; the eligible fund manager must be independent, registered, acting in ordinary course and meet profit-sharing limits. The fund must file prescribed annual statements; exclusions, reporting, and definitional provisions and limited relaxations for IFSCs apply.
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