Securitisation trust definition ties tax treatment to regulatory characterisation under SEBI or RBI frameworks.

Definition of securitisation trust for Chapter XII-EA identifies three qualifying forms: (i) a trust that is a special purpose distinct entity under SEBI securitisation regulations; (ii) a trust that is a Special Purpose Vehicle under RBI guidelines on securitisation of standard assets; or (iii) a trust set up by a securitisation company or reconstruction company formed under the SARFAESI Act or pursuant to RBI guidelines or directions, each of which must fulfil prescribed conditions.

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