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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Provisions expressly mentioned in the judgment/order text.
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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