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of <h1>Finance Bill 2017 amends Section 9A of Income-tax Act, exempts certain investment funds from corpus requirement.</h1> Clause 5 of the Finance Bill, 2017 amends section 9A of the Income-tax Act concerning business connections in India. It modifies sub-section (3), clause (j), which requires an investment fund's monthly average corpus to be at least one hundred crore rupees, except for funds established in the previous year. The amendment introduces a proviso exempting funds wound up in the previous year from this requirement. This change is effective retroactively from April 1, 2016, impacting the assessment year 2016-2017 and subsequent years.
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