Unit definition covers mutual fund, business trust and investment fund interests, including shares and partnership interests in specified contexts.

Unit has context-specific meanings under the Income-tax Act, 2025. It includes units of specified mutual funds and the Unit Trust of India for relevant purposes. For designated tax-deduction and tax-collection provisions, it means an investor's beneficial interest in an investment fund or scheme, including shares or partnership interests. For business-trust and related purposes, it also includes business trust units and beneficial interests in Alternative Investment Funds. Corresponding definitions under the Income-tax Act, 1961 follow the same distinction.

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