Income exemption for mutual fund unit receipts added to section 80L, changing tax treatment effective from April. An amendment inserts a new clause into the income-tax exemption provision, adding income received in respect of units of Mutual Funds specified under the ... Summary
Income exemption for mutual fund unit receipts added to section 80L, changing tax treatment effective from April.
An amendment inserts a new clause into the income-tax exemption provision, adding income received in respect of units of Mutual Funds specified under the statutory provision identifying approved mutual funds; the clause follows the existing clause (v) and takes effect from the stated commencement date.
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