Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Clause 2.6 of the Master Circular is superseded to prescribe uniform categories, characteristics and nomenclature for mutual fund schemes (Equity, Debt, Hybrid, Life Cycle and Other schemes) and to require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Clause 2.6 of the Master Circular is superseded to prescribe uniform categories, characteristics and nomenclature for mutual fund schemes (Equity, Debt, Hybrid, Life Cycle and Other schemes) and to require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.
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