<h1>Section 9A: Special Regime for Offshore Funds with Indian Managers; Rule 10VA Details CBDT Approval Process.</h1> The Finance Act, 2015 introduced Section 9A to the Income-tax Act, 1961, effective from April 1, 2016, establishing a special regime for offshore funds with fund managers in India. Guidelines for this section were published, including rules 10V, 10VA, 10VB, and forms 3CEJ and 3CEK. Rule 10VA outlines the approval process by the Central Board of Direct Taxes (CBDT) for these funds. A committee has been formed to review applications for approval, comprising senior tax officials from Mumbai. The committee's recommendations will determine the approval and any conditions attached. The notification is available on the Income Tax Department's website.