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of <h1>Rule 21AI: Calculate Exempt Income for Funds Under Section 10(4D), Submit Form 10IG Annually for Compliance.</h1> Rule 21AI outlines the method for computing exempt income for specified funds under clause (4D) of section 10 of the Income Tax Act. The exempt income is calculated using a formula that considers income from capital asset transfers, securities, and securitization trusts, adjusted by the ratio of assets under management held by non-resident unit holders. The specified fund must submit an annual statement of exempt income electronically in Form No. 10IG by the due date. Compliance with this requirement is necessary for income to be exempt. The rule also defines key terms like 'assets under management' and 'specified fund.'
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