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of <h1>Finance Bill 2018 amends section 115R: New tax rates on mutual fund distributions effective April 1, 2018.</h1> Clause 40 of the Finance Bill, 2018 amends section 115R of the Income-tax Act, which addresses tax on income distributed by mutual funds to unit holders. The amendment revises tax rates: 25% for individuals or Hindu undivided families from money market or liquid funds, 30% for others, 10% for equity-oriented funds, and 25% or 30% for other funds. It also imposes a 10% tax on income distributed by equity-oriented funds. Clause (b) of the second proviso is omitted. These changes are effective from April 1, 2018.
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