India, Aug. 4 -- To strengthen India's position as a global fund management hub, the Government has proposed to substantially relax the eligibility conditions for an Eligible Investment Fund (EIF) managed from India to avail tax exemption on its global income.

As per the Taxation and Other Laws (Amendment) Bill, 2026, to avail tax exemption on global income, offshore funds would no longer be required to satisfy the conditions like minimum investor threshold of 25 members, maximum 10 per cent participation interest for a single investor, restriction on investing more than 25 per cent of the corpus in a single entity, restriction on investments in associate entities and minimum monthly average corpus requirement of Rs 100 crore.

The Bill,...