Section 194F - Payments on account of repurchase of units by Mutual Fund or Unit Trust of India (Omitted) - Income-tax Act, 1961

2 [ **** ] --------------------- Notes :- 1. Inserted by the Finance Act, 1990, w.e.f. 1-4-1991. 2. Omitted vide Section 55 of the Finance (No. 2) Act, 2024 dated 16-08-2024 w.e.f. 01-10-2024 before it was read as, 1 [Payments on account of repurchase of units by Mutual Fund or Unit Trust of India . 194F. The person responsible for paying to any person any amount referred to in sub-section (2) of section 80CCB shall, at the time of payment thereof, deduct income-tax thereon at the rate of twenty per cent.]