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Amendment of section 115R.

Clause 40 - Bills - DIRECT TAXES - Income-tax - FINANCE BILL, 2018 - Clause 40 - 40. In section 115R of the Income-tax Act, in sub-section (2),- (A) for clause (i) to clause (iii), the following clauses shall be substituted, namely:- (i) twenty-five .....

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nd; (iii) ten per cent. on income distributed to any person by an equity oriented fund; (iv) twenty-five per cent. on income distributed to any person being an individual or a Hindu undivided family by a fund other than a money market mutual fund or .....

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omitted. Clause 40 of the Bill seeks to amend section 115R of the Income-tax Act relating to tax on distributed income to unit holders. The said section, inter alia, provides that any amount of income distributed by the specified company or a Mutual .....

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