Hindu undivided family investment eligibility restricted where any member's income exceeds the non taxable income threshold. Amendment narrows eligibility for investment by Hindu undivided families under the Unit Trust of India Act by disqualifying any family that during the previous year included at least one member whose total income exceeded the maximum amount not chargeable to income tax under the Income tax Act, thereby creating an income based exclusion for Unit Trust participation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Hindu undivided family investment eligibility restricted where any member's income exceeds the non taxable income threshold.
Amendment narrows eligibility for investment by Hindu undivided families under the Unit Trust of India Act by disqualifying any family that during the previous year included at least one member whose total income exceeded the maximum amount not chargeable to income tax under the Income tax Act, thereby creating an income based exclusion for Unit Trust participation.
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