Extension of exemption to Specified Undertaking of Unit Trust of India (SUUTI) and providing for alternative mechanism for vacation of office of the Administrator.
1 February, 2023
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Tax exemption extension for SUUTI permits continued tax-free administration until a notified date, with revised vacation rules. Proposal amends the UTI Repeal Act, 2002 to extend that no income-tax or other tax shall be payable by the Administrator in relation to the specified ... Summary
Tax exemption extension for SUUTI permits continued tax-free administration until a notified date, with revised vacation rules.
Proposal amends the UTI Repeal Act, 2002 to extend that no income-tax or other tax shall be payable by the Administrator in relation to the specified undertaking until the period ending on the thirtieth day of September, 2023, and to provide that the Administrator shall vacate office immediately on redemption of all schemes and payment of entire amounts to investors or from a date notified by the Central Government, whichever is earlier.
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