TaxTMI 
TaxTMI 
Computation of exempt income of specified fund for the purposes of clause (4D) of section 10
X X X X Extracts X X X X
X X X X Extracts X X X X
....(not being the permanent establishment of a non-resident in India) in a specified fund shall be computed in accordance with the following formula, namely:- Income exempt under clause (4D) of section 10= A*C1 + B*C2 +D*FI+E*F2, where A = any income accrued or arisen to, or received by a specified fund as a result of transfer of capital asset referred to in clause (viiab) of sectio....
X X X X Extracts X X X X
X X X X Extracts X X X X
....the aggregate of daily 'assets under management' of the specified fund held by non-resident unit holders (not being the permanent establishment of a non-resident in India) to the aggregate of daily total 'assets under management' of the specified fund, from the date of acquisition of the security (other than shares in a company resident in India) to the date of transfer of such security. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....sident in India) and where such income otherwise does not accrue or arise in India. F2 = ratio of the 'assets under management' in the specified fund held by non-resident unit holders (not being the permanent establishment of a non-resident in India) to the total 'asset under management' of the specified fund, as on the date of receipt of such income from a securitisation trust which is c....
X X X X Extracts X X X X
X X X X Extracts X X X X
....menting appropriate security, archival and retrieval policies in relation to the statements so furnished under this rule. Explanation.- For the purpose of this rule, the expressions,- (a) "assets under management" means the closing balance of the value of assets or investments of the specified fund as on a particular date; (b) "International Financial Services Centre" shall ha....