Amendment of Section 115R

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...., the words "twenty-five per cent." shall be substituted;           (b) after sub-clause (iii) and before the proviso, the following proviso shall be inserted, namely:- "Provided that where any income is distributed by a mutual fund under an infrastructure debt fund scheme to a non-resident (not being a company) or a foreign company, the mutual fu....

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....                    (ii) "infrastructure debt fund scheme" shall have the same meaning as assigned to it in clause (1) of regulation 49L of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 (22 of 1996) made under the Securities and Exchange Board of India Act, 1992.'.(15 of 1992) ....

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....esaid section to provide that the additional income-tax at the rate of twenty-five per cent. shall be leviable on income distributed to an individual or a Hindu undivided family by a fund other than money market mutual fund or a  liquid fund. It is further proposed to amend the said sub-section to provide that any income distributed by a mutual fund under an infrastructure debt scheme to a no....