Clarification regarding taxability of income earned by a non-resident investor from off-shore investments in investment fund routed through an Alternative Investment Fund

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....ard of Direct Taxes North-Block, New Delhi. dated the 12^th July, 2023 Subject: Clarification regarding taxability of income earned by a non-resident investor from off-shore investments in investment fund routed through an Alternative Investment Fund -reg. CBDT Circular No. 14/2019 dated 03.07.2019 was issued to clarify the taxability of income earned by a non-resident investor from outsi....

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.... "3. Chapter XII-FB contains special provisions relating to tax on income of investment funds and income received from such funds. Under Chapter XII-FB, section 115UB of the Act ('Tax on income of investment fund and its unit holders') is the applicable provision to determine the income and tax-liability of investment funds & their investors. In this context, "investment fund" is define....