Section 47(xix) - Transfer by a unit holder in the consolidating plan of a mutual fund scheme - Income Tax - Ready Reckoner - Income Tax

Section 47(xix) - Transfer by a unit holder in the consolidating plan of a mutual fund scheme Section Transaction not regarded as transfer Transferor u/s 2(47) Capital asset involved 47(xix) Transfer by a unit holder of a capital asset, being a unit or units, held by him in the consolidating plan of a mutual fund scheme, made in consideration of the allotment to him of a capital asset, being a unit or units, in the consolidated plan of that scheme of the mutual fund. Unit holder Unit or units, held in the consolidating plan of a mutual fund scheme Exemption u/s 47(xix) allowed only if - A plan of equity oriented MF merge with another plan of same equity oriented MF. A plan of debt oriented MF merges with another plan of same debt oriented MF. Mutual Fund - A Mutual fund specified u/s 10(23D) i.e. (i) a Mutual Fund registered set up under SEBI Act, 1992 or regulation made thereunder; (ii) Such other Mutual fund set up by public sector bank or public financial institution or authorised by the Reserve Bank of India and subject to conditions notified by the Central Government.