No Business connection in India - conditions to be fulfilled for being an eligible investment fund - provisions of the clause (j) of Section 9A(3) shall not be applicable to a fund which has been wound up in the previous year. - Budget 2017-18 w.e.f. AY 2016-17 (Retrospective)
2 February, 2017
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Corpus requirement for eligible investment funds exempted where fund was wound up in previous year, amendment applies retrospectively. The Finance Bill, 2017 inserts a proviso to clause (j) of section 9A(3) providing that the clause imposing a minimum monthly average corpus shall not ... Summary
Corpus requirement for eligible investment funds exempted where fund was wound up in previous year, amendment applies retrospectively.
The Finance Bill, 2017 inserts a proviso to clause (j) of section 9A(3) providing that the clause imposing a minimum monthly average corpus shall not apply to a fund which has been wound up in the previous year; the amendment is retrospective to 1 April 2016 and applies to assessment year 2016-17 and later years.
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