NISM 10B Investment Adviser Level 2 Notes

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  • InvIT Units: Similar tax treatment as REIT units.
  • AIF Equity Funds: Pass-through taxation for Category I and II AIFs.
  • Section 94(7): Disallows losses from dividend stripping.
  • Section 94(8): Disallows losses from bonus stripping.
  • Tax Audit: Applies if equity trading treated as business income.

NISM 10B NISM Investment Adviser Level 2

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