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        Bill

        The definition of 'Specified Mutual Fund' u/s 50AA is proposed...

        Specified Mutual Fund definition clarified: >65% in debt/money market instruments or >65% in such funds. Fund-of-Funds included. Effective 04/01/2026.

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                          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.
                                The definition of "Specified Mutual Fund" u/s 50AA is proposed to be amended to provide clarity regarding the proportion of investment in debt and money market instruments, and to clarify the investment requirements for Fund-of-Funds (FoFs). A specified mutual fund shall mean a mutual fund that invests more than 65% of its total proceeds in debt and money market instruments, or a fund that invests 65% or more of its total proceeds in units of such a fund. The amendment under clause (ii) of the Explanation of section 50AA is proposed to be effective from April 1, 2026, and applicable from the assessment year 2026-27 onwards.
                                Note: It is a system-generated summary and is for quick reference only.
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