Resultant Fund - Definition / Legal Terminology - Income Tax

Explanation.(c) For the purposes of clauses (viiac) and (viiad) of section 47 of the Income tax Act 1961. Resultant fund means a fund established or incorporated in India in the form of a trust or a company or a limited liability partnership, which (i) has been granted a certificate of registration as a Category I or Category II or Category III Alternative Investment Fund, and is regulated under the Securities and Exchange Board of India (Alternative Investment Fund) Regulations, 2012 made under the Securities and exchange Board of India Act, 1992 or regulated under the International Financial Services Centers Authority (Fund Management) Regulations, 2022, made under the International Financial Services Centers Authority Act, 2019; and (ii) is located in any International Financial Services Centre as referred to in sub-section (1A) of section 80LA;