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<h1>Income-tax Act Section 194F: Tax Deduction at 20% for Mutual Fund Repurchase Payments from April 1, 1991.</h1> A new section, 194F, is added to the Income-tax Act, effective April 1, 1991, mandating that any person responsible for making payments related to the repurchase of units by a Mutual Fund or the Unit Trust of India must deduct income tax at a rate of 20% at the time of payment. This provision applies to amounts specified in sub-section (2) of section 80CCB.