Amount of remuneration prescribed under section 9A(3)(m) of the Income-tax Act, 1961

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....tion 9A(3)(m) of the Income-tax Act, 1961 Finance (No 2) Act, 2019, inter alia, amended clause (m) of sub-section (3) of section 9A of the Income-tax Act, 1961 (the Act) w.e.f. 01.04.2019 to provide for payment of remuneration by an eligible investment fund to an eligible fund manager in respect of fund management activity undertaken by him on its behalf to be not less than the amount calculated ....

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....No 29/2020 was notified after the financial year got over and the financial year 2020-21 had already commenced. 4. In order to avoid genuine hardship in such cases, the Board, in exercise of powers conferred under section 119 of the Act, has decided to provide that for the financial years 2019-20 and 20-2021 in cases where the remuneration paid to the fund manager is lower than the amount of remu....