Section 55 - Amendment of section 115R - Finance Act, 2000

55. Amendment of section 115R In section 115R of the Income-tax Act, with effect from the 1st day of June, 2000,- (a) in sub-sections (1) and (2), for the words ten per cent. , the words twenty per cent. shall be substituted; (b) after sub-section (3), the following sub-section shall be inserted, namely:- (3A) The person responsible for making payment of the income distributed by the Unit Trust of India or a Mutual Fund and the Unit Trust of India or the Mutual Fund, as the case may be, shall on or before the 15th day of September in each year, furnish to the prescribed income-tax authority, a statement in the prescribed form and verified in the prescribed manner, giving the details of the amount of income distributed to unit holders during the previous year, the tax paid thereon and such other relevant details as may be prescribed. .