AIF — Alternative Investment Fund Compliance

SEBI has pushed the accredited-investor transition deadline for legacy angel funds from 8 September 2026 to 31 March 2027, but the ban on fresh contributions from non-accredited investors still kicks in on 8 September 2026. Here is what angel fund managers need to do now.

SEBI's Master Circular for Alternative Investment Funds, dated June 3, 2026, moves Category II AIFs from annual to semi-annual independent valuation of unlisted portfolio investments. Here is what fund managers, investors, and valuers need to check in their PPMs, valuer appointments, and reporting cycles.

SEBI's August 2026 consultation paper proposes a new securities market assets route to Accredited Investor status and deemed AI status for NRIs and OCIs, which would lower the minimum ticket size for Category I and II AIFs. Here is what changes, what stays the same until the final circular, and what AIF investors need for their ITR.

AIF sponsors must navigate multiple compliance layers annually: SAT reporting via Form N, scheme-level returns via Form N-2, statutory audit under SEBI AIF Regulations 2012, and mandatory CA certificates. Missing deadlines or filing errors attracts penalties and regulatory action.

Alternative Investment Fund (AIF) managers in India face strict SEBI requirements for Private Placement Memoranda (PPM) and Limited Partnership Agreements (LPA). This post covers mandatory disclosures, co-investment mechanics, and the critical key-man clause that regulators and CAs scrutinise.

Category III AIFs enjoy pass-through taxation under Section 115UB, but investors still face surcharge on short-term capital gains and must file Schedule CYLA. Understand the full tax burden, reporting requirements, and planning opportunities.

Setting up an AIF in Gift City IFSC offers Indian residents a pathway to invest abroad through LRS while enjoying tax neutrality under Section 10(4D). Here is the regulatory framework, compliance structure, and why this matters for high-net-worth investors.

Alternative Investment Funds (AIFs) are SEBI-regulated investment vehicles that pool capital for specified purposes. This guide breaks down the three AIF categories, mandatory corpus thresholds, Form A filing requirements, and essential compliance steps for fund managers.