TMI BlogComputation of exempt income of specified fund for the purposes of clause (4D) of section 10X X X X Extracts X X X X X X X X Extracts X X X X ..... t being the permanent establishment of a non-resident in India) in a specified fund shall be computed in accordance with the following formula, namely:- Income exempt under clause (4D) of section 10= A*C1 + B*C2 +D*FI+E*F2, where A = any income accrued or arisen to, or received by a specified fund as a result of transfer of capital asset referred to in clause (viiab) of section 47 , on a rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder management of the specified fund held by non-resident unit holders (not being the permanent establishment of a non-resident in India) to the aggregate of daily total assets under management of the specified fund, from the date of acquisition of the security (other than shares in a company resident in India) to the date of transfer of such security. D = any income accrued or arisen to, o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oes not accrue or arise in India. F2 = ratio of the assets under management in the specified fund held by non-resident unit holders (not being the permanent establishment of a non-resident in India) to the total asset under management of the specified fund, as on the date of receipt of such income from a securitisation trust which is chargeable under the head profits and gains of business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... val policies in relation to the statements so furnished under this rule. Explanation .- For the purpose of this rule, the expressions,- (a) assets under management means the closing balance of the value of assets or investments of the specified fund as on a particular date; (b) International Financial Services Centre shall have the same meaning as assigned to it in clause (q) of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
