Form 59A, Download Income Tax Form 59A in PDF Format

Form No. 59A for Application for Approval of Mutual Funds Investing In the Eligible Issue of Public Companies. Form No. 59A is required to be made to the CBDT by a mutual fund 3 months before it makes the public issue for the purpose of obtaining approval under section 80C(2)(xx)/88(2)(xvii) of the act. Unless this approval is obtained, subscribers to the issue cannot get the benefit of deduction under this provision. as subscription to any units of any mutual fund referred to in clause (23D) of section 10 and approved by the Board on an application made by such mutual fund in the prescribed form. Provided that this clause shall apply if the amount of subscription to such units is subscribed only in the eligible issue of capital of any company.

Explanation.—For the purposes of this clause “eligible issue of capital” means an issue referred to in clause (i) of the Explanation to clause (xix) of sub-section (2);


FORM NO. 59A

[See rule 20A]

Application for approval of mutual funds investing in the eligible issue of public companies under section 80C (2) (xx) or
under section 88(2) (xvii) of the Income-tax Act

1.

Name of the Mutual Fund and the address of its registered office

 

2.

Details of the trustees of the fund such as names, addresses, their professional experience, etc.

3. Objects of the fund


(i) Main objects

 


(ii) Ancillary objects (Enclose a copy of the Mutual Fund deed)

 

4.

Whether registered with SEBI; if yes, please specify the date and the number of the order (enclose a copy of the SEBI’s order)

 

5.

Whether notified under section 10(23D) of the Income-tax Act; if yes, please specify the date and the number of the order (enclose a copy of the order)

 

6.

Details of the custodians (enclose a copy of the custodian agreement for mutual fund)

 

7.

Details of Asset Management company such as names of directors with their experience, qualifications and profession, and whether related to the trustees (enclose a copy of the audited balance sheet for last 3 years)

 

8.

Plan-wise details of various schemes launched so far and the application of their proceeds (enclose audited balance sheet for last 3 years)

 

9.

Details of the proposed scheme to be launched for the purpose of section 80C(2)(xx) or section 88(2)(xvii), such as number of units, face value, total amount to be mobilised, etc. (enclose a copy of the approval by the SEBI)

 

10.

Name and address of the public company in whose public issue subscription is proposed to be made, along with the details of the issue (enclose a copy of the approval of the public issue by the Board)

 

11.

Names and addresses of the Bankers

 

12.

Names and addresses of the auditors

 


Signatures of the authorised signatory

Verification

I, certify that the information furnished above is true to the best of my knowledge and belief.


(Signatures of the authorised signatory)

 

 

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