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of <h1>Finance Bill 2017 amends Section 9A, exempting wound-up funds from corpus requirement, retroactive from April 2016.</h1> The Finance Bill, 2017 proposes an amendment to Section 9A of the Income-tax Act, concerning conditions for an investment fund to avoid being classified as having a business connection in India. Specifically, Clause (j) of Sub-section (3) mandates that a fund's monthly average corpus must be at least one hundred crore rupees, except for newly established funds, which must meet this requirement by the end of the first year. The amendment introduces a proviso exempting funds wound up in the previous year from this requirement, effective retrospectively from April 1, 2016, applicable from assessment year 2016-17 onwards.
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