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Tax on income of investment fund and its unit holders

Section 115UB - Act - SPECIAL PROVISIONS RELATING TO TAX ON INCOME OF INVESTMENT FUNDS AND INCOME RECEIVED FROM SUCH FUNDS - Income Tax - Section 115UB - 1[ 115UB. (1) Notwithstanding anything contained in any other provisions of this Act and subject .....

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were the income accruing or arising to, or received by, such person had the investments made by the investment fund been made directly by him. (2) Where in any previous year, the net result of computation of total income of the investment fund [witho .....

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l be allowed to be carried forward and it shall be set-off by the investment fund in accordance with the provisions of Chapter VI; and (ii) such loss shall be ignored for the purposes of sub-section (1). (3) The income paid or credited by the investm .....

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o the provisions of sub-section (2). (4) The total income of the investment fund shall be charged to tax- (i) at the rate or rates as specified in the Finance Act of the relevant year, where such fund is a company or a firm; or (ii) at maximum margin .....

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year, if not paid or credited to the person referred to in sub-section (1), shall subject to the provisions of sub-section (2), be deemed to have been credited to the account of the said person on the last day of the previous year in the same propor .....

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nish, within such time as may be prescribed, to the person who is liable to tax in respect of such income and to the prescribed income-tax authority, a statement in the prescribed form and verified in such manner, giving details of the nature of the .....

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r a company or a limited liability partnership or a body corporate which has been granted a certificate of registration as a Category I or a Category II Alternative Investment Fund and is regulated under the Securities and Exchange Board of India (Al .....

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