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[Cites 0, Cited by 0] [Section 76(5)] [Section 76] [Entire Act]

Union of India - Subsection

Section 76(5)(b) in The Income Tax Act, 2025

(b)"Specified Mutual Fund" means a Mutual Fund, by whatever name called, which invests more than 65% of its total proceeds in debt and money market instruments or a fund which invests 65% or more of its total proceeds in units of such Mutual Fund, subject to the following:––
(i)the percentage of investment in debt and money market instruments or in units of a fund shall be computed with reference to the annual average of the daily closing figures;
(ii)"debt and money market instruments" shall include any securities, by whatever name called, classified or regulated as debt and money market instruments by the Securities and Exchange Board of India.