Specified fund definition amended to require non-resident unit-holders and cap resident holdings; effective 1 April 2026. Schedule VI Note 1(g) is amended to define a specified fund as one whose units, other than those held by the sponsor or manager, are held by non-residents except where a non-resident later becomes resident or resident holders hold no more than 5% of units and meet prescribed conditions; a related year reference is changed from 2025 to 2030 and the amendment aligns the definition with clause (4D) of section 10 of the Income-tax Act, 1961, effective 1 April 2026.
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Specified fund definition amended to require non-resident unit-holders and cap resident holdings; effective 1 April 2026.
Schedule VI Note 1(g) is amended to define a specified fund as one whose units, other than those held by the sponsor or manager, are held by non-residents except where a non-resident later becomes resident or resident holders hold no more than 5% of units and meet prescribed conditions; a related year reference is changed from 2025 to 2030 and the amendment aligns the definition with clause (4D) of section 10 of the Income-tax Act, 1961, effective 1 April 2026.
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