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Approval of the fund

Rule 10VA - Rule - Part D. - Special cases - Income Tax - Rule 10VA - 1[10VA. .- (1) An investment fund may at its option seek approval of the Board regarding its eligibility for the purposes of section 9A. (2) The fund seeking approval may make an a .....

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nths before the beginning of the previous year for which the fund seeks the approval. (4) A committee as notified by the Board, shall examine the application and submit its recommendations regarding grant of approval or otherwise and the conditions, .....

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below the rank of Commissioner. (6) The committee on behalf of the Board may, before giving its recommendation, call for such documents or information from the investment fund as it may consider necessary and may call for further details or informati .....

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plication under sub-rule (2) has been made,- (i) by an order in writing, grant approval to the fund subject to such conditions as it may deem fit; or (ii) for reasons to be recorded in writing, reject the application. (8) The approval once granted, s .....

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