TDS on mutual fund unit repurchases removed after statutory omission; prior rule required withholding by funds. Section 194F required mutual funds and the Unit Trust of India to deduct income tax at source on repurchase payments for units issued under an Equity Linked Saving Scheme to which section 80CCB applied; the provision was subsequently omitted by later finance legislation, removing that withholding obligation.
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Provisions expressly mentioned in the judgment/order text.
TDS on mutual fund unit repurchases removed after statutory omission; prior rule required withholding by funds.
Section 194F required mutual funds and the Unit Trust of India to deduct income tax at source on repurchase payments for units issued under an Equity Linked Saving Scheme to which section 80CCB applied; the provision was subsequently omitted by later finance legislation, removing that withholding obligation.
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