Amendment of section 115R.

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..... use (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. - Clause 20 of the Bill seeks to amend section 115R of the Income-tax Act relating to tax on distributed income to unit ho .....

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..... the aforesaid section to specifically provide that additional income-tax at the rate of twenty-five per cent shall be leviable on any income distributed to an individual or a Hindu undivided family by a money market mutual fund or a liquid fund. It is further proposed to insert a new clause (ia) after clause (i) in sub-section (2) of the aforesaid section to provide that any income distributed to .....

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