Mutual Funds and Annual Information report (AIR)

#1
While filing of IT returns, we have to mention the amounts invested in MF if it is >2 lacsin the AIR section.

Does anyone know if these 2 lacs are:
1. Within a single MF scheme
2. Across an AMC
3. total of all MF investments?

For shares, the AIR limit is 1 lac in a single company.
 
#3
In that case, it is not a fair limit, considering that MF are a basket of stocks, and most people who go for it, do it via SIP route.

I can hold 2 stocks worth 1 lac each and i do not have to declare it. But if I hold 2 MF worth 1 lac each, I have to declare them.

Would like to know what experts on this forum think about it?
 

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