Specified Mutual Fund definition

Specified Mutual Fund means a Mutual Fund scheme which does not invest more than 35% in equity shares of domestic companies
Specified Mutual Fund means a Mutual Fund by whatever name called, where not more than thirty five per cent. of its total proceeds is invested in the equity shares of domestic companies:
Specified Mutual Fund means a Mutual Fund by whatever name called, where not more than 35%, of its total proceeds is invested in the equity shares of domestic companies. The % of equity shareholding held in respect of the Specified Mutual Fund shall be computed with reference to the annual average of the daily closing figures.

Examples of Specified Mutual Fund in a sentence

  • The percentage of equity shareholding held in respect of the Specified Mutual Fund shall be computed with reference to the annual average of the daily closing figures.

  • Other Debt schemes i.e. Other than Equity Oriented Schemes and Unitsof Specified Mutual Fund Schemes acquired on or after 1 April 2023Short Term Capital Gain (Period of holding less than or equal to 36 months)Units of Other Debt schemesTaxable at normal rates of tax applicable to the unitholder.

  • As per the said section, with effect from 1 April 2023, gains/losses from units of Specified Mutual Fund would be deemed to be short term capital gain/loss irrespective of period of holding i.e. the definition of holding for more than 36 months to be considered as long term capital asset is withdrawn.

  • Specified Mutual FundsCapital Gain (Short term -irrespective of period of holding)Units of Specified Mutual Fund Schemes acquired on or after 1 April 2023Taxable at normal rates of tax applicable to the unitholder.In respect of non-resident non corporate, taxable at normal rates of tax applicable to the unitholder.

  • Further, it is enacted by Finance Act, 2019, that no additional income tax shall be made by Specified Mutual Fund (Mutual Fund specified under clause (23D) of section 10, is located in any International Financial Services Centre and all the units are held by non-residents) on or after 1st September, 2019 out of, its income derived from transactions made on a recognised stock exchange located in any International Financial Services Centre and consideration is paid or payable in convertible foreign exchange.

  • Listed Units of a !Specified Mutual Fund acquired prior to 1 April 2023 1.

  • This is discussed below: Type of instrumentPeriod of holding As per the amendments in the Finance Act, 2023, capital gains on redemption/transfer of Specified Mutual Fund (i.e mutual fund where not more than 35 % is invested in equity shares of an Indian Company) acquired on or after 01st April, 2023 or Market Linked Debenture shall be deemed to be capital gains arising from Short-Term Capital Asset, irrespectively of the period of holding.

  • Further, it is enacted by Finance Act, 2019, that no additional income tax shall be made by Specified Mutual Fund (Mutual Fund specified under clause (23D) of section 10, is located in any International Financial Services Centre and all the units are held by non-residents) on or after 1st September, 2019 out of, its income derived from transactions made on a recognized stock exchange located in any International Financial Services Centre and consideration is paid or payable in convertible foreign exchange.

  • The equity shareholding of the Specified Mutual Fund is to be computed using the annual average of the daily closing figures.

  • Other Debt schemes i.e. Other than Equity Oriented Schemes and Unitsof Specified Mutual Fund Schemes acquired on or after 1 April 2023Short Term Capital Gain (period of holding less than or equal to 36 months)Category of UnitsResident InvestorsNon-Resident Investorsa.


More Definitions of Specified Mutual Fund

Specified Mutual Fund means a Mutual Fund by whatever name called, where not more than 35 per cent of its total proceeds is invested in the equity shares of domestic companies. Finance Act 2023 has inserted Section 50AA in the Act. As per the said section, with effect from 1 April 2023, gains/losses from units of Specified Mutual Fund would be deemed to be short term capital gain/losses irrespective of period of holding i.e. the definition of holding for more than 36 months to be considered as long term capital asset shall not be applicable in case of such Funds. This is applicable for all such units which are acquired on or after Apr 1, 2023. For units which were acquired prior to that, rates applicable to long term capital gains shall be applicable if the units are held for a period of 36 months or more as on the date of redemption.
Specified Mutual Fund means a mutual fund by whatever name called, where not more than 35%1 of its total proceeds is invested in the equity shares of domestic companies.
Specified Mutual Fund means a Mutual Fund specified under clause (23D) of section 10
Specified Mutual Fund means a Mutual Fund by whatever name called, where not more than 35% of its total proceeds is invested in the equity shares of domestic companies. The percentage of equity shareholding held in respect of the Specified Mutual Fund shall be computed with reference to the annual average of the daily closing figures. Investments in Specified Mutual Funds on or after April 1, 2023 shall be deemed to be short term capital assets irrespective of holding period.
Specified Mutual Fund means a mutual fund by whatever name called, where not more than
Specified Mutual Fund means a Mutual Fund by whatever name called, where not more than 35 per cent of its total proceeds is invested in the equity shares of domestic companies. Finance Act 2023 has inserted Section 50AA in the Act. As per the said section, with effect from 1 April 2023, gains/losses from units of Specified Mutual Fund would be deemed to be short term capital gain/losses irrespective of period of holding

Related to Specified Mutual Fund

  • Mutual Fund or “Fund” or “UTIMF” means UTI Mutual Fund, a Trust under the Indian Trust Act, 1882 registered with SEBI under registration number MF/048/03/01 dated January 14, 2003.

  • Money market mutual fund means an open-end managed investment fund:

  • Mutual Funds means (i) all open-end mutual funds; and (ii) similar pooled investment vehicles established in non-U.S. jurisdictions, such as registered investment trusts in Japan. For purposes of the Code, Mutual Fund does not include shares of open-end money market mutual funds (unless otherwise advised by Compliance).

  • Affiliated Money Market Fund any existing or future Trust that holds itself out as a money market fund and complies with Rule 2a-7 under the Investment Company Act of 1940, as amended;

  • Investment Fund has the same meaning as in National Instrument 81-106 Investment Fund Continuous Disclosure;

  • Proprietary or Sub-advised Mutual Fund means any open-end Mutual Fund for which MSIM acts as investment adviser or sub-adviser.

  • Investment Company Event means the receipt by the Debenture Issuer and the Trust of an opinion of counsel experienced in such matters to the effect that, as a result of the occurrence of a change in law or regulation or written change (including any announced prospective change) in interpretation or application of law or regulation by any legislative body, court, governmental agency or regulatory authority, there is more than an insubstantial risk that the Trust is or, within 90 days of the date of such opinion, will be considered an Investment Company that is required to be registered under the Investment Company Act which change or prospective change becomes effective or would become effective, as the case may be, on or after the date of the issuance of the Debentures.

  • Investment Person means all Portfolio Managers of Loomis Sayles and other Advisory Persons who assist the Portfolio Managers in making and implementing investment decisions for an Investment Company or other client of Loomis Sayles, including, but not limited to, designated Research Analysts and traders of Loomis Sayles. A person is considered an Investment Person only as to those client accounts or types of client accounts as to which he or she is designated by Personal Trading Compliance or the Chief Compliance Officer as such. As to other accounts, he or she is simply an Access Person.

  • Alternative Investment Vehicle means an entity created in accordance with the Operative Documents of a Borrower to make investments and that has the right to call on Capital Commitments directly from Investors.

  • Control Investment Affiliate as to any Person, any other Person that (a) directly or indirectly, is in control of, is controlled by, or is under common control with, such Person and (b) is organized by such Person primarily for the purpose of making equity or debt investments in one or more companies. For purposes of this definition, “control” of a Person means the power, directly or indirectly, to direct or cause the direction of the management and policies of such Person whether by contract or otherwise.

  • Benefit Plan Investor means an “employee benefit plan” as defined in Section 3(3) of ERISA that is subject to Title I of ERISA, a “plan” as defined in and subject to Section 4975 of the Code or an entity whose underlying assets include plan assets of any of the foregoing.

  • Specified Investments means (a) direct obligations of the United States of America or obligations fully guaranteed by the United States of America; (b) commercial paper rated A-1/P-1 by S&P and Moody's, respectively or, if such ratings are unavailable, rated by any nationally recognized rating organization in the United States equal to the highest rating assigned by such rating organization; (c) investments in negotiable certificates of deposit, time deposits, banker's acceptances, commercial paper or other direct obligations of, or obligations guaranteed by, commercial banks organized under the laws of the United States or of any political subdivision thereof (or any U.S. branch of a foreign bank) with issuer ratings of at least B/C by Thomson Bankwatch, having maturities no later than 90 days following the date of such investment; (d) overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers; or (e) overnight repurchase agreements with respect to the securities described in clause (a) above entered into with an office of a bank or trust company which is located in the United States of America or any bank or trust company which is organized under the laws of the United States or any state thereof and has capital, surplus and undivided profits aggregating at least $500 million. SSB. State Street Bank and Trust Company of Connecticut, National Association, a national banking association or any successor Owner Trustee in its individual capacity.

  • Qualified investment has the meaning set forth in Section 313.021(1) of the TEXAS TAX CODE, as interpreted by the Comptroller’s Rules.

  • Investment Company Client means any Investment Company (or series thereof ) as to which the Firm is an investment adviser or investment sub-adviser.

  • Investment Portfolio means invested assets (including cash and cash equivalents, short-term investments, bonds or other fixed income securities and equity investments).

  • publicly controlled means owned by or otherwise under the control of an organ of state, including a –

  • Registered Investment Company means any one or more corporations, partnerships or trusts registered under the Investment Company Act of 1940 for which Fidelity Management and Research Company serves as investment advisor.

  • Qualified portfolio company means a company that (i) has its principal place of business in the

  • Investment Company Act Event means that the Company shall have received an Opinion of Counsel to the effect that, as a result of the occurrence of a change in law or regulation or a written change in interpretation or application of law or regulation by any legislative body, court, governmental agency or regulatory authority, there is more than an insubstantial risk that the Securities Trust is or will be considered an "investment company" that is required to be registered under the Investment Company Act of 1940, as amended, which change becomes effective on or after the Original Issue Date.

  • investment dealer means a person or company registered in the category of investment dealer;

  • Qualified nonprofit organization means, with respect to a Project, an organization exempt from federal income tax under Section 501(c) (3) or (4) of the Internal Revenue Code, which is not and during the Compliance Period will not be affiliated with or controlled by a for-profit organization, whose exempt purposes include the fostering of low income housing, which owns an interest in the Project, which will materially participate in the development and operation of the Project throughout the Compliance Period, and which is not affiliated with or controlled by a for-profit organization.

  • Recognised Investment Exchange means a recognised investment exchange as defined by section 285 of the Financial Services and Markets Xxx 0000;

  • Approved Investment means any type of security, instrument, participation or interest in property, as set forth on Schedule I hereto (which may be amended from time to time by execution of a revised Schedule I, I-A or I-B) in which Cash Collateral may be invested or reinvested by Bank in accordance with Paragraph 2 of Article IV hereof.

  • Major transit investment corridor means public transit service that uses or occupies:

  • Applicant’s Qualified Investment means the Qualified Investment of the Applicant during the Qualifying Time Period and as more fully described in EXHIBIT 3 of this Agreement.

  • Investment Vehicle means a corporation, partnership, limited partnership, limited liability company, association, or other entity, either domestic or foreign, managed by an external manager in which a board is the majority investor and that is organized in order to invest with, or retain the investment management services of, other external managers.