India's New Tax Bill Seeks To Make Foreign Fund Management More Attractive

The government has introduced a new tax bill in Parliament to attract foreign investment and improve ease of doing business in India. Surabhi, Business Today, explains that the proposed legislation builds on the June 5 ordinance by exempting withholding tax on certain government securities and easing rules for offshore investment funds. The bill also relaxes fund manager eligibility norms, allowing global fund managers to relocate to India without triggering tax complications for foreign funds.