CBDT notifies fund managers remunerated at arm’s length

CBDT has vide a recent notification relaxed the requirement of remunerating fund managers of certain offshore funds in view of amended Rule 10V for availing the special taxation regime u/s. 9A. One of the conditions of section 9A is that the remuneration payable to fund manager shall not be less than the amount as may be prescribed by the CBDT. Earlier in May 2020, the CBDT has prescribed rules for computing the minimum amount of remuneration payable to fund manager by the fund for the purpose of section 9A. Please access the notification here.