Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Clause 2.6 of the Master Circular is superseded to prescribe uniform categories, characteristics and nomenclature for mutual fund schemes (Equity, Debt, Hybrid, Life Cycle and Other schemes) and to require scheme-level conformity within six months. The circular prescribes minimum asset-allocation thresholds, permitted residual investments, portfolio-overlap limits and a quarterly overlap computation methodology with phased realignment for sectoral/thematic schemes. It discontinues Solution Oriented Schemes, prescribes Life Cycle Fund glide paths, caps on FoF underlying exposures and standardised FoF categorisation, requires true-to-label naming and monthly public disclosure of category-wise portfolio overlap on AMC websites.
Clause 2.6 of the Master Circular is superseded to prescribe uniform categories, characteristics and nomenclature for mutual fund schemes (Equity, Debt, Hybrid, Life Cycle and Other schemes) and to require scheme-level conformity within six months. The circular prescribes minimum asset-allocation thresholds, permitted residual investments, portfolio-overlap limits and a quarterly overlap computation methodology with phased realignment for sectoral/thematic schemes. It discontinues Solution Oriented Schemes, prescribes Life Cycle Fund glide paths, caps on FoF underlying exposures and standardised FoF categorisation, requires true-to-label naming and monthly public disclosure of category-wise portfolio overlap on AMC websites.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
