Insertion of new section 194K.

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..... r paying to a resident any income in respect of (a ) units of a Mutual Fund specified under clause (23D ) of section 10; or (b ) units from the Administrator of the specified undertaking; or (c ) units from the specified company, shall, at the time of credit .....

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..... of India (Transfer of Undertaking and Repeal) Act, 2002; (58 of 2002) (b ) specified company means a company as referred to in clause (h ) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002; (58 of 2002) (c ) specified undertaking shall have the meaning assigned to it in .....

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..... income in respect of (i) units of a Mutual Fund specified under clause (23D) of section 10; or (ii) units from the Administrator of the specified undertaking; or (iii) units from the specified company, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof by any mode, whichever is earlier, deduct income-tax thereon at the rate of ten .....

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