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of <h1>Union Budget 2025-26 Proposes Simplified Regime for IFSC Fund Managers, Amends Section 9A Conditions Effective April 2025.</h1> The Union Budget 2025-26 proposes a simplified regime for fund managers in International Financial Services Centres (IFSC). Section 9A stipulates that fund management by eligible managers on behalf of eligible funds does not create a business connection in India, provided certain conditions are met. A key condition limits Indian residents' investment in such funds to 5% of the corpus. Amendments propose rationalizing this condition by assessing fund participation on specific dates and allowing compliance within four months if unmet. Other conditions may be relaxed for fund managers commencing operations in IFSC by March 31, 2030. These changes are effective from April 1, 2025.
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