Asset management companies (AMCs) can now graduate from being mere ‘advisors’ to offshore funds to becoming a direct, “full-fledged manager” of such funds out of India. This comes after the Central Board of Direct Taxes (CBDT) removed a taxation related constraint that prevented Indian AMCs from taking up direct fund management activity for the offshore funds. Sandeep Jhunjhunwala, Director shares his views on aformentioned story for Hindu Business Line- First page story.
CBDT allows AMCs to directly manage offshore funds out of India – Sandeep Jhunjhunwala
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