Taxation of Investment Fund - Section 115UB

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.... 2022 made or under the International Financial Services Centres Authority Act, 2019. [ Explanation 1(a) of Section 115UB ] Computation of income of Investment fund * In case No Loss Arise:- Net result of income of the investment fund without provided exemption of section 10(23FBA) * In case of Loss Arise * Net result of income of the investment fund without provided exemption of section 10(23FBA) is a loss under any head of income and such loss cannot be or is not wholly set-off against income under any other head of income of the said previous year, then,- * Loss of Investment fund allowed to carried forward in following manner w.e.f. from 1st April 2019 * (i) Loss as a result of the computation under the head "Profit and gains....

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.... tax- * (i) at the rate or rates as specified in the Finance Act (i.e. 30%) of the relevant year, where such fund is a company or a firm; or * (ii) at maximum marginal rate in any other case(other than Company or Firm). * In other words, tax Rates for Investment Fund in case of PGBP income- * In case of Company/Firm - 30% * In any other case - Maximum Marginal Rate * Exemption of provided to Investment fund * In computing the total income of a previous year of any person, any income falling within section 10(23FBA) shall not be included if any income of an investment fund other than the income chargeable under the head "Profits and gains of business or profession"; * Liability of TDS Deduction by the Investment Fund * Fo....