TaxTMI 
TaxTMI 
TaxTMI 
Guidance Note – Form 190
X X X X Extracts X X X X
X X X X Extracts X X X X
....uidance Note – Form 190<BR>Income Tax<BR>Dated:- 4-4-2026<BR><BR>Form 190 - Guidance Note Application for approval of mutual funds investing in the eligible issue of public companies under section Schedule XV(1)(z)(ii) of the Income-tax Act, 2025 Name of form as per I.T. Rules, 1962 Form 59A Name of form as per I.T. Rules, 2026 Form 190 Corresponding section of I.T. Act, 1961 ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... 80C(2)(xix) Corresponding section of I.T. Act, 2025 Schedule XV(1)(z)(ii) Corresponding Rule of I.T. Rules, 1962 20A Corresponding Rule of I.T. Rules, 2026 331 Purpose : Form 190 is required to be filed by a Mutual Fund to apply for approval to invest in eligible issue of public companies under section Schedule XV(1)(z)(ii) of the Income-tax Act, 2025. The contribution to....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... such Mutual Funds by individuals is eligible for deduction u/s 123 of the Income-tax Act, 2025. Who should file : A Mutual Fund applying for approval to subscribe to eligible issue of public companies under section Schedule XV(1)(z)(ii) of the Income-tax Act, 2025 should file this form. Due Date: The form should be filed by the Mutual Fund along with the documents as mentioned in the ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....form three months before the issue of eligible capital. Structure of Form 190: - Basic details of Mutual fund - Name & address, objects, SEBI registration details - Management Details - Trustees, qualification, experience, Custodians - Details of the Bankers and Auditors - Name, Address - Details of the proposed scheme - number, face value, total amount to be....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... mobilised - Details of the public company in whose public issue subscription is proposed to be made - Details of the public company issue of shares, copy of approval of public issue. What are the documents/information required to file Form 190? The following documents/information are required to file form 190: • Copy of Mutual Fund Deed. • Copy of SEBI reg....
X X X X Extracts X X X X
X X X X Extracts X X X X
....istration order • Copy of approval under Schedule V11 (Table : 20 or 21) of Income Tax Act • Copy of custodian agreement for the Mutual Fund • Copy of last three years audited balance sheet • Management details (Directors and Key personnel) • Details of equity including copy of SEBI approval for issue • Copy of approval ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....to public company by the Board for issue of shares. Outcome of processed Form 190: The approval for subscription to issue of eligible capital as per Schedule XV(1)(z)(ii) of the Income-tax Act, 2025 based on details filed in Form 190. Common changes made across forms: • Pre-filling of basic details such as Name, PAN and Tax Year etc. with option for the assessee to edit the s....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ame. • Assessment / Financial / Previous year or years have been replaced with Tax year or years, wherever appearing in the Form/Annexure. • Sections, Clauses and Schedules changed as per the Income-tax Act, 2025. • Currency symbol "Rs." has been replaced with "Rs.". =============<BR> News - Press release - PIB....