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of <h1>Finance Bill 2023 amends Unit Trust Act: Administrator's term conditions updated, tax exemption extended to Sept 30, 2023.</h1> Clause 154 of the Finance Bill, 2023 proposes amendments to the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, effective from April 1, 2023. In Section 8, sub-section (1), it modifies the condition for the Administrator to vacate office, allowing it to occur upon scheme redemption and payment to investors or as notified by the Central Government. Section 13, sub-section (1), extends the tax exemption period for the specified undertaking from March 31, 2023, to September 30, 2023, overriding certain tax laws. These changes aim to align administrative and tax provisions with current requirements.
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