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[Cites 0, Cited by 0] [Section 198(8)] [Section 198] [Entire Act]

Union of India - Subsection

Section 198(8)(ii) in The Income Tax Act, 2025

(ii)in any other case, a minimum of 65% of the total proceeds of such fund is invested in the equity shares of domestic companies listed on a recognised stock exchange,and, for the purposes of this clause,––
(I)the percentage of equity shareholding or unit held in respect of the fund, shall be computed with reference to the annual average of the monthly averages of the opening and closing figures;
(II)in case of a scheme of an insurance company comprising unit linked insurance policies to which exemption in Schedule II (Table: Sl. No. 2) does not apply, the minimum requirement of 90% or 65%, as the case may be, is required to be satisfied throughout the term of such insurance policy.