9911796707
TMI BlogTax on distributed income to unit holdersX X X X Extracts X X X X X X X X Extracts X X X X ..... sub-section shall apply in respect of any income distributed to a unit holder of open-ended equity oriented funds in respect of any distribution made from such fund for a period of three years commencing from the 1st day of April, 1999. 4[(2) Notwithstanding anything contained in any other provision of this Act, any amount of income distributed by the specified company or a Mutual Fund to its unit holders 24[on or before the 31st day of March, 2020] shall be chargeable to tax and such specified company or Mutual Fund shall be liable to pay additional income-tax on such distributed income 5[at the rate of- 19[(i) twenty-five per cent. on income distributed to any person being an individual or a Hindu undivided family by a money market mut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exchange:] 16[Explanation.-For the purposes of this sub-section,- (i) "administrator" and "specified company" shall have the meanings respectively assigned to them in the Explanation to clause (35) of section 10; 22[(ia) "convertible foreign exchange" means foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Exchange Management Act, 1999 (42 of 1999.) and the rules made thereunder;] (ii) "infrastructure debt fund scheme" shall have the same meaning as assigned to it in clause (1) of regulation 49L of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 made under the Securities and Exchange Board of India Act, 1992 (1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch has been charged to tax under sub-section (1) or sub-section (2). ******************** Notes :- 1. Chapter XII-E, consisting of sections 115R to 115T, inserted by the Finance Act, 1999, w.e.f. 1-6-1999. 2. Substituted for "any amount of income distributed by the Unit Trust of India to its unit-holders" by the Finance Act, 2002, w.e.f. 1-4-2003. 3. Substituted for "twenty" by the Finance Act, 2001, w.e.f. 1-6-2001. Earlier "twenty" was substituted for "ten" by the Finance Act, 2000, w.e.f. 1-6-2000. 4. Substituted by the Finance Act, 2003, w.e.f. 1-4-2003. Prior to its substitution, sub-section (2), as amended by the Finance Act, 2002, w.e.f. 1-4-2003, the Finance Act, 2001, w.e.f. 1-6- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come distributed to any person being an individual or a Hindu undivided family" substituted vide Finance Act, 2011 w.e.f. 1.6.2011 11. Inserted vide Finance Act, 2011 w.e.f. 1.6.2011 12. For the words "twenty per cent", the words "thirty per cent" substituted vide Finance Act, 2011 w.e.f. 1.6.2011 13. Substituted vide the Finance Act 2013 w.e.f. 1st day of June, 2013, before it was read as"twelve and one-half per cent". 14. Inserted vide the Finance Act 2013 w.e.f. 1st day of June, 2013 15. Substituted vide the Finance Act 2013 w.e.f. 1st day of June, 2013, before it was read as"Provided that". 16. Substituted vide the Finance Act 2013 w.e.f. 1st day of June, 2013, before it was read as"Explanation.-For the purposes of this s ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
