Case law › Notifications › 2019 › Notification No. 27/2019 [F.No. 500/182/2018 -FT&TR - V] /SO 1420(E)

Notification 20 March 2019

Notification No. 27/2019 [F.No. 500/182/2018 -FT&TR - V] /SO 1420(E)

jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99

What this is

Notification No. 27/2019 [F.No. 500/182/2018 -FT&TR - V] /SO 1420(E) was published on 20 March 2019. Its subject is jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99.

What it does

In exercise of the power under clause (e) of sub-section (9) of section 9A of the Income-tax Act, 1961, the Central Government notifies the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, made under the Securities and Exchange Board of India Act, 1992, as the regulation for the purposes of that section. Section 9A deals with the eligible investment fund and the eligible fund manager, and clause (e) of sub-section (9) is the definitional limb under which a regulation is to be notified. The notification comes into force from the date of its publication in the Official Gazette.

Who it reaches

eligible investment funds relying on section 9A
fund managers in India managing offshore funds under section 9A
mutual funds registered under the 1996 SEBI Regulations
assessing officers applying the section 9A safe harbour

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.3	s.3
s.9A	s.9

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

jftLVªh laö Mhö ,yö&33004@99 REGD. NO. D. L.-33004/99
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EXTRAORDINARY
Hkkx II—[k.M 3—mi&[k.M (ii)
PART II—Section 3—Sub-section (ii)
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PUBLISHED BY AUTHORITY
la- 1272] ubZ fnYyh] lkseokj] ekp Z 25] 2019@p S=k 4] 1941
No. 1272] NEW DELHI, MONDAY, MARCH 25, 2019/CHAITRA 4, 1941

( िवभाग)
अिधसूचना अिधसूचना
नई , 20
, 2019
(आयकर)
का.आ. 1420(अ).—आयकर अिधिनयम, 1961 (1961 का 43) धारा 9क उप-धारा (9) के खंड (ड़)
का करते , सरकार एतद् भारतीय और िविनमय
अिधिनयम, 1992 (1992 का 15) के तहत
सृिजत भारतीय और िविनमय
(! "# फं ड) िविनयम, 1996 को $ धारा के %&'
िविनयम के तौर पर अिधसूिचत
करती है।
2. यह अिधसूचना सरकारी %() इसके & तारीख से * होगी।
[अिधसूचना सं. 27/2019/ फा. सं. 500/182/2018-एफटी एंड टीआर-V]
रजत बंसल, +," सिचव (िवदेश कर एवं कर अनुसंधान) -II
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 20th March, 2019
(INCOME TAX)
S.O. 1420(E).—In exercise of the powers conferred by clause (e) of sub-section (9) of section 9A of the
Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Securities and Exchange Board of
India (Mutual Funds) Regulations, 1996 made under the Securities and Exchange Board of India Act, 1992 (15 of
1992) as the regulation for the purposes of the said section.
2. This notification shall come into force from the date of its publication in the Official Gazette.
[Notification No. 27/2019 / F.No. 500/182/2018 -FT&TR - V]
RAJAT BANSAL, Jt. Secy. (Foreign Tax and Tax Research) - II
1860 GI/2018
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.

From when

The date of publication in the Official Gazette (the notification is dated 20 March 2019).

What to watch

It comes into force from the date of publication in the Official Gazette; the notification is dated 20 March 2019 and the gazette issue is of 25 March 2019.
The notification is a bare designation of the SEBI (Mutual Funds) Regulations, 1996 for the purposes of section 9A; it prescribes no further condition.
The Hindi text in the extract is badly damaged by the scan, but the English text is complete and governs.
What follows from the designation depends on how clause (e) of section 9A(9) uses the notified regulation, which is not reproduced here.

Where you meet it

In testing whether an offshore fund and its India-based manager fall within section 9A, and in the fund manager's own assessment where the section 9A regime is relied on.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 94/2026 [F. No. 370142/24/2026-TPL] / G.S.R. 646(E) : Income-tax (Second Amendment) Rules, 2026 : Amendment of rule 157 of the Income tax Rules, 2026 to align the definition of the specified fund with rule 114AAB of the Income tax Rules, 1962 — Ministry of Finance 21 July 2026
Notification No. 64 — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 7 16 April 2026
Notification No. 63/2026 [F. No. 370142/13/2026-TPL]/ GSR 268(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026
Notification No. 62/2026 [F. No. 370142/10/2026-TPL]/ GSR 267(E) — Ministry of Finance 10 April 2026
Notification No. 61/2026 [F. No. 370142/9/2026-TPL] / GSR 266(E) — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 10 April 2026
Notification No. 60/2026 [F. No. 370142/8/2026-TPL]/ GSR 265(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026

← Notification No. 26/2019 [F. No. 275/15/2018-IT(B)]/SO 1399(E) · Notification No. 23/2019 [F. No. 178/30/2017-ITA-I] / SO 1396(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.