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Narayana Murthy panel bats for tax benefit to alternative investment funds
January, 19th 2016

The 21-member Narayana Murthy Committee set up to advice SEBI on issues related to the development of alternative investment and start-up ecosystem is expected to recommend relaxed tax structure and revamp of the alternative investment funds (AIF) norms. While SEBI has played its part when it came to rules for PE and VC funds to invest in India, the panel’s proposals will be tax related, according to sources.

“This includes a tax regime lucrative enough to attract these entities, revamp of the AIF norms, making safe-harbour norms effective and on-boarding domestic angel investors.”

Tejesh Chitlangi, Partner, IC Legal, said: “The industry today faces various legal, regulatory and tax hurdles such as the absence of effective safe harbours, withholding tax obligations, permanent establishment exposure for the overseas structures set up by the Indian managers, etc.

“Tax liberalisations for the MF industry would be the key to success.”

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