India plans to relax tax regulations for offshore funds with domestic managers
The Indian government has introduced a proposal to modify tax laws, which would grant offshore investment funds an exemption from tax obligations if they hire fund managers based in India. The draft legislation intends to eliminate current safe harbour requirements for these funds, such as the mandates for a minimum ₹1-billion corpus, a base of at least 20 investors, and caps on individual holdings. This initiative is designed to provide greater regulatory clarity for foreign investors following a period of recent capital outflows.
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