Asked on - Dec 17, 2020Listen
What is going to be the treatment of such income in investors' hand? Can I offset management fees from the interest income of the fund? This management fee is charged by the fund for their services provided against the investment in the fund so I should be able to offset management fee and fund expenses from the income of the fund. Please advise
Also, I want to check with you if i can offset the equalisation amount received with the equalisation amount paid. Currently the fund is not netting equalisation amount and deducting tax on equalisation amount received. Please provide details on tax treatment for AIF II funds.