Unit definitions distinguish mutual fund holdings, business trust units, and beneficial interests in investment funds and Alternative Investment Funds. Unit under the Income-tax Act, 2025 is defined according to the relevant provision. It includes units of specified mutual funds and the Unit Trust of ... Summary
Unit definitions distinguish mutual fund holdings, business trust units, and beneficial interests in investment funds and Alternative Investment Funds.
Unit under the Income-tax Act, 2025 is defined according to the relevant provision. It includes units of specified mutual funds and the Unit Trust of India, while for designated tax-deduction and tax-collection purposes it means an investor's beneficial interest in an investment fund or scheme, including shares or partnership interests. For business trusts and Alternative Investment Funds, it also encompasses business trust units and beneficial interests in Alternative Investment Funds.
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