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of <h1>Mutual funds face additional income tax on distributed income with rates from 5-30% depending on fund type</h1> Section 115R of the Income Tax Act, 1961 imposes additional income tax on distributed income by mutual funds and unit trusts. Tax rates vary based on fund type and recipient category: 25% for individuals/Hindu undivided families from money market/liquid funds, 30% for others from such funds, 10% for equity-oriented funds, and 25-30% for other fund types. Special provisions exist for infrastructure debt funds (5% for non-residents) and International Financial Services Centre funds. The distributing entity must pay tax within fourteen days of distribution. No deductions are allowed for income already taxed under this provision.
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