TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>AIF Angel Fund rules tightened: only Accredited Investors for new funds; Sept 8, 2026 compliance; investment and lock-in limits</h1> The regulator amends the AIF framework for Angel Funds: new funds must accept capital only from Accredited Investors; existing funds must comply by September 8, 2026 (with up to 200 non-Accredited investors allowed until then) and onboard at least five Accredited Investors before first close within 12 months of PPM record. Angel Funds must invest directly (no schemes or term-sheet filing, though term-sheet records must be retained), follow-on investments capped at INR 25 crore and not increase post-issue shareholding, and face a one-year lock-in (six months if sold to a third party). Overseas investment limits use total investments at cost. PPMs must specify a non-discretionary allocation methodology and pro-rata rights apply (excluding agreed carried interest). Category I classification, audit/reporting thresholds, and calculation bases are revised; rules take immediate effect.
TaxTMI 
TaxTMI 
