NISM 19A AIF Distributors Certification Exam Notes

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  • LLP Profits: Exempt in investors’ hands under tax pass-through.
  • Secondary Transfer: Gains on unit transfers taxed based on characterization.
  • Section 56(2)(x): Taxes FMV excess over consideration as other income.
  • MAT: Corporate investors subject to Minimum Alternate Tax.
  • DTAAs: Bilateral agreements prevent double taxation for non-residents.

NISM 19A AIF Distributors

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