https://www.taxtmi.com/acts?id=49544 Chapter XII-E charges tax on income distributed by mutual funds and the Unit Trust of India, making the distributing entity liable to pay additional income-tax; distributions by open-ended equity oriented funds are temporarily exempt for a prescribed three-year period. The distributing person and the fund must remit tax to the Central Government within a short statutory period; the taxed income is not deductible. Interest accrues on unpaid tax at a monthly rate and non-payment renders the distributor an assessee in default subject to collection and recovery provisions. Definitions specify mutual fund and open-ended equity oriented fund criteria. en-us Sat, 22 Feb 2025 11:32:31 +0530 Sat, 22 Feb 2025 11:32:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49544 Chapter XII-E charges tax on income distributed by mutual funds and the Unit Trust of India, making the distributing entity liable to pay additional income-tax; distributions by open-ended equity oriented funds are temporarily exempt for a prescribed three-year period. The distributing person and the fund must remit tax to the Central Government within a short statutory period; the taxed income is not deductible. Interest accrues on unpaid tax at a monthly rate and non-payment renders the distributor an assessee in default subject to collection and recovery provisions. Definitions specify mutual fund and open-ended equity oriented fund criteria. Act-Rules F. Acts / Amendment Acts Sat, 22 Feb 2025 11:32:31 +0530 https://www.taxtmi.com/acts?id=49544