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          <h1>Finance Act 2025 Amends Section 47 of Income Tax Act, Redefining 'Resultant Fund' for Alternative Investment Funds</h1> The Finance Act, 2025 amends section 47 of the Income-tax Act by modifying clause (viiad)'s Explanation. Effective April 1, 2026, it redefines 'resultant fund' as a fund established in India as a trust, company, or limited liability partnership located in an International Financial Services Centre. Such funds must be registered as Category I, II, or III Alternative Investment Funds, retail schemes, or Exchange Traded Funds, regulated under SEBI or IFSC Authority regulations. Additionally, the amendment extends a timeline in clause (b) from 2025 to 2030.

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