https://www.taxtmi.com/acts?id=11765 Tax on distributed income applies to amounts distributed by mutual funds to unit holders and by life insurers to policy holders of approved equity-oriented schemes; the payer must remit tax within fourteen days, the tax is final with no deduction or further credit, non-payment makes the payer an assessee in default subject to recovery provisions, and late payment attracts simple monthly interest. Definitions specify equity-oriented funds and approved equity-oriented life insurance schemes by their predominant equity investments and prescribed approval and computation rules. en-us Fri, 17 Sep 2010 10:23:28 +0530 Fri, 17 Sep 2010 10:23:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11765 Tax on distributed income applies to amounts distributed by mutual funds to unit holders and by life insurers to policy holders of approved equity-oriented schemes; the payer must remit tax within fourteen days, the tax is final with no deduction or further credit, non-payment makes the payer an assessee in default subject to recovery provisions, and late payment attracts simple monthly interest. Definitions specify equity-oriented funds and approved equity-oriented life insurance schemes by their predominant equity investments and prescribed approval and computation rules. Act-Rules Bills Fri, 17 Sep 2010 10:23:28 +0530 https://www.taxtmi.com/acts?id=11765