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Income Tax - Highlights / Catch Notes

Home Highlights February 2023 Year 2023 This

Extension of exemption to Specified Undertaking of Unit Trust of ...


SUUTI Exemption Extended; New Mechanism for Administrator's Office Vacation Announced; Tax Exemption Until September 30, 2023.

February 6, 2023

Notes     Income Tax

Extension of exemption to Specified Undertaking of Unit Trust of India (SUUTI) and providing for alternative mechanism for vacation of office of the Administrator. - Amendment has been made where administrator, SUUTI shall immediately on redemption of all the schemes of the specified undertaking and the payment of entire amount to investors or from the date as may be notified by the Central Government in the Official Gazette, whichever is earlier, vacate his office. Also, Administrator is not required to pay any tax in relation to specified unit till period ending 30.09.2023.

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