Computation of exempt income of specified fund for the purposes of clause (23FF) of section 10

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....h is attributable to units held by non-resident (not being a permanent establishment of a non-resident in India) in such specified fund shall be computed as under:- (i) where the specified fund files Form No. 10-II in accordance with sub-rule (2), the Income exempt under clause (23FF) of section 10= [A*B/C], where,- A = income of the nature of capital gains, arising or received by a specified ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f acquisition of the share of a company resident in India by the specified fund to the date of transfer of such share. (ii) where no Form No.10-II is filed by the specified fund, the exempt income shall be NIL. (2) The specified fund shall furnish an annual statement of exempt income in Form No.10-II electronically under digital signature on or before the due date, which is duly verified in the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ns the closing balance of the value of assets or investments of the specified fund as on a particular date; (b) "due date" shall have the meaning assigned to it in the Explanation 2 below sub-section (1) of section 139; (c) "original fund" , "relocation" and "resultant fund" shall have the meanings respectively assigned to them in the Explanation to clause (viiac) and clause (viiad) ....