The record
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- India's government has proposed amendments to tax laws under the Taxation and Other Laws (Amendment) Bill, 2026 to make it easier for offshore investment funds managed from India to qualify for tax exemption on their global income.
- The Bill removes several eligibility conditions for Eligible Investment Funds, such as minimum investor counts, corpus thresholds, and investment limits, and eliminates the separate criteria for funds operating from the IFSC by creating a common framework.
- It also seeks to replace a June 5 Ordinance that had granted tax exemption for foreign portfolio investors' interest income and capital gains from government securities.
- The measures are part of broader government efforts to attract foreign capital and establish India as a global fund management hub.
What to watch next
- Introduction of the Bill in the Lok Sabha by Finance Minister Nirmala Sitharaman
- Whether offshore funds actually relocate fund management activities to India under the relaxed norms
- Further government measures indicated after the 'first step' initiatives that drew $40.81 billion in net inflows
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Named India · Abheet Sachdeva · Government of India · Grant Thornton Bharat · Nangia Global · Nirmala Sitharaman · Reserve Bank of India · Richa Sawhney
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