Income Tax: Section 194F relating to Tax Deducted at Source ...

Mutual funds/UTI unit repurchase TDS of 20% abolished from Oct 1, 2024, simplifying capital gains taxation.

Notes Bill

July 30, 2024

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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Income Tax: Section 194F relating to Tax Deducted at Source ...

Mutual funds/UTI unit repurchase TDS of 20% abolished from Oct 1, 2024, simplifying capital gains taxation.

Notes Bill

July 30, 2024

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