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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 115R: Only Income Distributed Before March 31, 2020, Taxed for Assessment Year 2021-2022 Onwards.</h1> Clause 60 of the Finance Bill, 2020, amends section 115R of the Income-tax Act, which imposes an additional income tax on income distributed by specified companies or Mutual Funds to unit holders. The amendment specifies that only income distributed on or before March 31, 2020, will fall under this section. This change is effective from April 1, 2021, and applies to the assessment year 2021-2022 and subsequent years.
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