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of <h1>Income-tax Act Section 9A(4)(b) Clarifies AMCs as Fund Managers Eligible for Benefits per SEBI Regulations.</h1> The Central Board of Direct Taxes has clarified that the term 'Fund Manager' under Section 9A(4)(b) of the Income-tax Act, 1961, includes Asset Management Companies (AMCs) approved by the Securities and Exchange Board of India (SEBI) under the SEBI (Mutual Funds) Regulations, 1996. This clarification follows representations requesting the inclusion of AMCs within this definition. SEBI has confirmed that AMCs are engaged in fund management activities and thus qualify as Fund Managers, making them eligible for benefits under Section 9A. A notification has been issued to include these regulations in the definition of 'specified regulations' under Section 9A(9)(e).
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