Clause 20 - Amendment of section 115R. - Finance Bill, 2011

20. In section 115R of the Income-tax Act, in sub-section (2), with effect from the 1st day of June, 2011, (a) in clause (i), for the words "income distributed", the words "income distributed to any person being an individual or a Hindu undivided family" shall be substituted; (b) after clause (i), the following clause shall be inserted, namely: "(ia) thirty per cent. on income distributed to any other person by a money market mutual fund or a liquid fund;"; (c) in clause (iii), for the words "twenty per cent.", the words "thirty per cent." shall be substituted.