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of <h1>Income Tax Bill 2025 Clause 393 replaces Section 194K maintaining 10% TDS rate on mutual fund income</h1> The Income Tax Bill 2025 introduces Clause 393 to replace Section 194K of the Income-tax Act 1961, governing TDS on income from mutual fund units. The new provision maintains the existing 10% TDS rate and Rs. 10,000 threshold while presenting rules in a consolidated tabular format. Both provisions apply to income from specified mutual funds, administrators, and companies, excluding capital gains from TDS. The Bill cross-references multiple exemptions and integrates TDS rules across various income types for administrative efficiency. Key features remain unchanged: deduction at credit or payment timing, threshold application, and capital gains exclusion. The transformation aims to modernize the statutory framework while preserving substantive tax collection mechanisms for investment income.
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