Amendment of section 115UB.

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....d 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 clause (i), if any, shall also be ignored for th....

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....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 Income-tax Act relating to tax on income of investment fund and its u....

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....er 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 unit holder, if such loss has arisen in respect of a unit which has not been held by th....