Clarification regarding taxability of income earned by a non-resident investor from off-shore investments in investment fund routed through an Alternative Investment Fund

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..... s North-Block, New Delhi. dated the 12 th July, 2023 Subject: Clarification regarding taxability of income earned by a non-resident investor from off-shore investments in investment fund routed through an Alternative Investment Fund -reg. CBDT Circular No. 14/2019 dated 03.07.2019 was issued to clarify the taxability of income earned by a non-resident investor from outside India ( .....

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..... Chapter XII-FB contains special provisions relating to tax on income of investment funds and income received from such funds. Under Chapter XII-FB, section 115UB of the Act ('Tax on income of investment fund and its unit holders') is the applicable provision to determine the income and tax-liability of investment funds their investors. In this context, investment fund is defined in Exp .....

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..... Category II AIFs regulated by Securities and Exchange Board of India (SEBI) or International Financial Services Centres Authority (IFSCA). 4. All the other contents of the Circular dated 03.07.2019 remain same. It may be circulated widely for information of all stakeholders and Departmental officers. 5. Hindi version to follow. (Dr. Castro Jayaprakash. T) Under Secretary ( .....

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