Taxation of Investment Fund - Section 115UB

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..... gement) Regulations, 2022 made or under the International Financial Services Centres Authority Act, 2019. [ Explanation 1(a) of Section 115UB ] Computation of income of Investment fund In case No Loss Arise: - Net result of income of the investment fund without provided exemption of section 10(23FBA) In case of Loss Arise Net result of income of the investment fund without provided exemption of section 10(23FBA) is a loss under any head of income and such loss cannot be or is not wholly set-off against income under any other head of income of the said previous year, then,- Loss of Investment fund allowed to carried forward in following manner w.e.f. from 1 st April 2019 (i .....

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..... Taxability of Income of Investment Fund [ Section 115UB(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 (i.e. 30%) of the relevant year, where such fund is a company or a firm ; or (ii) at maximum marginal rate in any other case(other than Company or Firm). In other words, t ax Rates for Investment Fund in case of PGBP income- In case of Company/Firm 30% In any other case Maximum Marginal Rate Exemption of provided to Investment fund In computing the total income of a previous year of any person, any income falling within section 10(23FBA) shall not be .....

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..... 2019 ] The provision of dividend distribution tax under section 115-O or tax on distributed income under section 115R shall not apply to the income paid by the investment fund to its unit holder The income received by the investment fund would be exempt from TDS requirement a notification to this effect has been issued under section 197A(1F) . The provisions of Chapter XII-D or Chapter XII-E shall not apply to the income paid by an investment fund under this Chapter. [ Section 115UB(5) ] Filing of Return of Income by Investment Fund Investment Fund compulsory required to file its return of income under section 139(4F) . The person responsible for crediting or making payment of the income on behalf of an .....

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