New Itax Rules for Offshore Fund Managers & Form 3CEJ, 3CEK

Income Tax (5th Amendment) Rules 2016 have been notified vide CBDT Notification 14/2016 dt. 15th March 2016, to insert new income tax rules 10V, 10VA & 10VB relating to guidelines for applicability of S.9A of Income Tax to off-shore fund managers. Further, these amendment rules have inserted two new forms as under:

Income Tax Form 3CEJ

Report from an accountant to be furnished for purposes of section 9A relating to arm’s length price in respect of the remuneration paid by an eligible investment fund to the fund manager.

Income Tax 3CEK

Annual Statement under section 9A of the Income-tax Act, 1961

CBDT Notification 14/2016 dt 15th March 2016 with Form 3CEJ & 3CEK

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