TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Rule 20A: Mutual Funds Approval Process under Section 80C(2)(xx) & 88(2)(xvii) Requires Form 59A Submission</h1> The guidelines outlined in Rule 20A of the Income Tax Rules, 1962, specify the approval process for Mutual Funds under section 80C(2)(xx) and section 88(2)(xvii). The Central Board of Direct Taxes is the prescribed authority for approvals, which must be applied for using Form No. 59A, three months before a public issue. Required documents include audited financial statements for the past three years and a registration certificate from the Securities and Exchange Board of India. Mutual Funds must invest their raised capital as specified, with a portion in eligible capital issues within one year, and the remainder within three years. Compliance is verified through an accountant's certificate, and the Board can withdraw approval for non-compliance.
TaxTMI 
TaxTMI 
