Mutual fund regulations clarify regulatory definitions and cross-reference income tax provisions to guide compliance obligations. Addresses the SEBI (Mutual Funds) Regulations, 1996, centring on definitional provisions-Regulation 2(p) and Regulation 49L(1)-that delimit the regulatory perimeter and thereby determine compliance duties. The document cross-references allied provisions of the Income tax Act to explain intersections between tax treatment and mutual fund regulatory obligations.