Tax on distributed income: equity oriented funds now subject to additional tax on distributions and revised fund rates. Amendment to section 115R substitutes the clauses specifying rates of additional income-tax on income distributed by funds, establishing distinct rates by fund type and recipient category, and makes equity oriented funds liable to pay additional income-tax on distributed income; it also omits clause (b) of the second proviso to sub section (2).
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Tax on distributed income: equity oriented funds now subject to additional tax on distributions and revised fund rates.
Amendment to section 115R substitutes the clauses specifying rates of additional income-tax on income distributed by funds, establishing distinct rates by fund type and recipient category, and makes equity oriented funds liable to pay additional income-tax on distributed income; it also omits clause (b) of the second proviso to sub section (2).
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