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of <h1>New Notification: No Business Connection in India for Eligible Fund Management Activities Under Income-tax Act, 1961.</h1> The Central Government has issued Notification No. 78/2017, dated August 3, 2017, under the Income-tax Act, 1961. It specifies that for eligible investment funds, the fund management activities conducted by an eligible fund manager on behalf of such funds will not establish a business connection in India. This applies to funds from countries and territories listed, including Albania, Australia, Canada, France, Germany, Japan, the United Kingdom, and the United States, among others. The notification is effective from its publication date in the Official Gazette.
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