Provide for pass through of losses in cases of Category I and Category II Alternative Investment Fund (AIF)

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..... ass through of income earned by the Category I and II AIF, except for business income which is taxed at AIF level. Pass through of profits (other than profit gains from business) has been allowed to individual investors so as to give them benefit of lower rate of tax, if applicable. Pass through of losses are not provided under the existing regime and are retained at AIF level to be carried forw .....

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..... ent fund as on 31st March, 2019, shall be deemed to be the loss of a unit holder who held the unit on 31st March, 2019 in respect of the investments made by him in the investment fund and allowed to be carried forward by him for the remaining period calculated from the year in which the loss had occurred for the first time taking that year as the first year and it shall be set-off .....

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