Tax on distributed income increased, and mutual funds must file an annual statement detailing distributions and tax paid. Amendment raises the tax on income distributed by the Unit Trust of India and mutual funds to twenty per cent. and requires the payor and the distributing ... Summary
Tax on distributed income increased, and mutual funds must file an annual statement detailing distributions and tax paid.
Amendment raises the tax on income distributed by the Unit Trust of India and mutual funds to twenty per cent. and requires the payor and the distributing entity to furnish, by 15 September each year, a prescribed verified statement to the income-tax authority detailing amounts distributed to unit holders during the previous year, tax paid thereon and other prescribed particulars.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
