Mutual fund specification recognised under Income-tax Act for tax purposes following statutory registration and trust deed. Central Government specifies J. M. Mutual Fund as a mutual fund for tax purposes under the Income-tax Act by exercising the power conferred by the relevant clause of section 10, identifying the fund as constituted under a trust deed dated 1st September, 1994, set up by J. M. Financial and Investment Consultancy Services Limited and J. M. Share and Stock Brokers Limited and recognising its registration with the market regulator under the Mutual Funds Regulations, 1993, under registration code MF/015/94/8.