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.
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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:
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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.
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Examples of Specified Mutual Fund in a sentence

  • 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period of holding i.e. the definition of holding for more than 36 months to be considered as long term capital asset is withdrawn.

  • Premium (Sum Assured 500,000) in40,000 o)Contribution to P.P.F. 10,000 .p) Contribution to Units of Specified Mutual Fund 20,000.q) Medical policy premium paid by cheque *30,000.Compute Taxable Income and Tax Liability of Mrs.

  • In case the Scheme does not fulfill the criteria of an Equity Oriented fund or is a Specified Mutual Fund as specified under Income Tax Act, 1961, the tax status will be as stated below (Table – 2): TAX STATUS FOR FUND OTHER THAN EQUITY ORIENTED FUND OR A SPECIFIED MUTUAL FUNDUnits of mutual funds other than equity-oriented fund shall be a short-term capital asset if the period of holding is less than 36 months.

  • 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.

  • 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.

  • 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.

  • 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.

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

  • Provided that 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.

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


More Definitions of Specified Mutual Fund

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.
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Specified Mutual Fund means a Mutual Fund specified under clause (23D) of section 10—
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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.

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

  • 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.

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