Income Tax: Section 194F relating to Tax Deducted at Source (TDS) on payments made by Mutual Funds or...

Income Tax: Section 194F relating to Tax Deducted at Source (TDS) on payments made by Mutual Funds or Unit Trust of India (UTI) on repurchase of units, attracting a TDS rate of 20%, is proposed to be omitted. This amendment, aimed at rationalizing and simplifying taxation of capital gains, will take effect from October 1, 2024. .....

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