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Provide for pass through of losses in cases of Category I and Category II Alternative Investment Fund (AIF)

..... gh of profits (other than profit & gains from business) has been allowed to individual investors so as to give them benefit of lower rate of tax, if applicable. Pass through of losses are not provided under the existing regime and are retained at AIF level to be carried forward and set off in accordance with Chapter VI. In order to remove the genuine difficulty faced by Category I and II AIFs .....

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..... llowed to be carried forward by him for the remaining period calculated from the year in which the loss had occurred for the first time taking that year as the first year and it shall be set-off by him in accordance with the provisions of Chapter VI; (iv) the loss so deemed in the hands of unit holders shall not be available to the investment fund for the purposes of chapter VI. These amendments w .....

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