https://www.taxtmi.com/acts?id=38725 Insertion of section 194K requires payers to deduct tax at source on income to residents in respect of units of specified mutual funds, units from the Administrator of the specified undertaking, or units from the specified company, at the time of credit or payment, subject to an exemption when the aggregate payable by the payer to the payee is below a de minimis threshold and excluding incomes characterized as capital gains. Definitions of Administrator, specified company and specified undertaking are provided by reference to the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, and credits to any account in the payer's books are deemed credit to the payee. en-us Sat, 28 Mar 2020 10:43:55 +0530 Sat, 28 Mar 2020 10:43:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=38725 Insertion of section 194K requires payers to deduct tax at source on income to residents in respect of units of specified mutual funds, units from the Administrator of the specified undertaking, or units from the specified company, at the time of credit or payment, subject to an exemption when the aggregate payable by the payer to the payee is below a de minimis threshold and excluding incomes characterized as capital gains. Definitions of Administrator, specified company and specified undertaking are provided by reference to the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, and credits to any account in the payer's books are deemed credit to the payee. Act-Rules F. Acts / Amendment Acts Sat, 28 Mar 2020 10:43:55 +0530 https://www.taxtmi.com/acts?id=38725