Amendment of section 115UB.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ng to the investment fund as a result of the computation under the head "Profit and gains of business or profession", if any, shall be,-- (a) allowed to be carried forward and it shall be set off by the investment fund in accordance with the provisions of Chapter VI; and (b) ignored for the purposes of sub-section (1); (ii) the loss other than the loss referred to in cla....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....alculated from the year in which the loss had occurred for the first time taking that year as the first year and shall be set off by him in accordance with the provisions of Chapter VI: Provided that the loss so deemed under this sub-section shall not be available to the investment fund on or after the 1st day of April, 2019.'. - Clause 38 of the Bill seeks to amend section 115UB of the In....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (i) the loss arising to the investment fund as a result of the computation under the head "Profit and gains of business or profession", if any, shall be, allowed carry forward and set off in accordance with the provisions of Chapter VI; and such loss shall not accrue, or arise or received by the unit holder; and (ii) the other loss, if any, shall not accrue, or arise or received by the ....