Net Asset Value applicability aligned with fund realisation for large mutual fund purchases, applying the closing NAV when funds clear. Applicability of Net Asset Value (NAV) is modified for purchase applications in Income and Debt oriented mutual fund schemes (excluding liquid funds) so that for large subscriptions the closing NAV of the day on which funds are available for utilisation will apply, aligning NAV applicability with realisation of money and moving away from NAV based on application date; all other conditions of the earlier uniform cut-off timings circular remain unchanged.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Net Asset Value applicability aligned with fund realisation for large mutual fund purchases, applying the closing NAV when funds clear.
Applicability of Net Asset Value (NAV) is modified for purchase applications in Income and Debt oriented mutual fund schemes (excluding liquid funds) so that for large subscriptions the closing NAV of the day on which funds are available for utilisation will apply, aligning NAV applicability with realisation of money and moving away from NAV based on application date; all other conditions of the earlier uniform cut-off timings circular remain unchanged.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
