Extension of exemption to Specified Undertaking of Unit Trust of India (SUUTI)

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..... Act, 2002 [UTI Repeal Act, 2002]. It is the successor of the erstwhile Unit Trust of India (UTI) and is mandated to liquidate the Government liabilities on account of erstwhile UTI. 2. As per sub-section (1) of section 13 of the UTI Repeal Act, 2002, SUUTI has been exempted from payment of income-tax up to 31st day of March, 2023. Finance Act, 2023 amended the UTI Repeal Act, 2002, to extend such .....

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..... ending on the 31st day of March, 2027 in respect of any income, profits or gains derived, or any amount received in relation to the specified undertaking. 5. This amendment will take effect from the 1st day of April, 2025. [Clause 131] In case of divergence of interpretation, the English text shall prevail. Full Text: Union Budget 2025-26 (Full) + Finance Bill, 2025
TMI Short Notes , Exp .....

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