Other conditions required to be fulfilled by a specified fund referred to in clause (4D) of section 10 of the Act

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....e (i) of clause (c) of the Explanation to clause (4D) of section 10 of the Act, the "other conditions" required to be fulfilled by a specified fund shall be that - (a) the unit holder of the specified fund, other than the sponsor or manager of such fund, who becomes a resident under clause (1) or clause (1A) of section 6 of the Act during any previous year subsequent to the previous year in whic....

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....he conditions under sub-rule (1) and furnish information in respect of units held by residents in the annual statement of exempt income in Form No. 10-IG. (3) The income attributable to units held by non-resident (not being the permanent establishment of a nonresident in India) in a specified fund shall not be exempt under clause (4D) of section 10 unless the specified fund complies with sub-rule....

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....ated 21-08-2025 before it was read as,  "2[(4) For the purposes of sub-item (b) of item (I) of sub-clause (i) of clause (c) of Explanation to clause (4D) of section 10, (A) the retail scheme shall satisfy the following conditions, namely:- (i) it shall have at least twenty investors with no single investor investing more than twenty-five per cent. in such scheme; (ii) it shall not mak....

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....tion No. G.S.R. 566(E) dated 21-08-2025 before it was read as,  "3[Explanation.- For the purpose of this rule, the expressions- (i) "associate" shall have the meaning as assigned to it in clause (e) of sub-regulation (1) of regulation 2 of the International Financial Services Centres Authority (Fund Management) Regulations, 2022 made under the International Financial Services Centres....