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<h1>Income-tax Act Update: Exemption for Category-I Foreign Portfolio Investors from Section 9A(3) Clauses Retroactive to 2019.</h1> The Central Government has issued Notification No. 41/2020, stating that the conditions specified in clauses (e), (f), and (g) of Section 9A(3) of the Income-tax Act, 1961, will not apply to investment funds established by a Category-I foreign portfolio investor registered under the SEBI (Foreign Portfolio Investors) Regulations, 2019. This exemption is effective retroactively from September 23, 2019. The notification clarifies that no individual will be adversely affected by its retrospective application.