Income-tax Rules, 2026 | Rule 51 of 333

Rule 51 - Other conditions required to be fulfilled by the original fund Full text

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Primary authority: Notification No. 22/2026 / G.S.R. 198(E)

Local legal-text status: LOCAL_EXTRACT_EXTERNAL_OFFICIAL_SOURCE_CONTROLS

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51. Other conditions required to be fulfilled by the original fund.– (1) For the purposes of section 70(2) [Table: Sl No.5, C(a)(A)(iv)], the original fund, in a case where a capital asset is transferred to a resultant fund being a Category III Alternative Investment Fund, shall fulfil the condition that the aggregate participation or investment in the original fund, either directly or indirectly, by persons resident in India does not exceed 5% of the corpus of such fund at the time of such transfer. (2) For the purpose of sub-rule (1) the expressions "original fund" and "resultant fund" shall have the meanings respectively assigned to them in section 70(2) [Table: Sl No.5, C(a) and (c)].

Local extract SHA-256: ddb736484356e4968bc55a2dce41068160403b2aba70bc1f4e63e60032af2b33. This hash authenticates the local extract only; it does not certify that every amendment, table or Gazette footnote has been consolidated.

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Related sections

70(2)

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