Income-tax (Seventeenth Amendment), Rules, 2022 - Additional conditions required to be fulfilled by a specified fund for availing exemption u/s 10(4D) - 64/2022 - Income Tax Act, 1961
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Specified fund compliance: non resident unit income exempt only if fund maintains records and files prescribed annual statements. Exemption for income attributable to units held by non residents in a specified fund is conditioned on the fund maintaining specified unit holder records, certifying compliance and furnishing an annual statement of exempt income in Form No.10 IG. Concessional tax treatment and exemption for eligible investment divisions are additionally conditioned on filing specified annual statements and audit reports in Forms No.10 IH, 10 IK and 10 IL, and the rules prescribe annexures for allocating income to non resident unit holders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Specified fund compliance: non resident unit income exempt only if fund maintains records and files prescribed annual statements.
Exemption for income attributable to units held by non residents in a specified fund is conditioned on the fund maintaining specified unit holder records, certifying compliance and furnishing an annual statement of exempt income in Form No.10 IG. Concessional tax treatment and exemption for eligible investment divisions are additionally conditioned on filing specified annual statements and audit reports in Forms No.10 IH, 10 IK and 10 IL, and the rules prescribe annexures for allocating income to non resident unit holders.
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