TDS on mutual fund unit repurchase proposed to be omitted under section 194F, simplifying taxation of capital gains.
Proposal deletes section 194F, removing the TDS obligation on payments for repurchase of units by mutual funds and UTI as part of capital gains tax rationalisation; the amendment takes effect from the first day of October under the Finance (No.2) Bill, 2024 (Clause 55).
Note: It is a system-generated summary and is for quick reference only.