Definition of money market mutual fund and liquid fund clarifies taxation scope for mutual fund schemes. Amendment inserts two definitions into the Explanation to Chapter XII-E: "money market mutual fund" defined by reference to the mutual funds regulations' ... Summary
Definition of money market mutual fund and liquid fund clarifies taxation scope for mutual fund schemes.
Amendment inserts two definitions into the Explanation to Chapter XII-E: "money market mutual fund" defined by reference to the mutual funds regulations' sub-clause, and "liquid fund" defined as a mutual fund scheme or plan classified as a liquid fund in accordance with regulatory guidelines or regulations made thereunder.
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