BLOG on Income Tax Management for - AY 2022-23 & 2023-24

Amendment to [ Section-115-R & 115-T ] w.e.f. Assessment Year 2019-2020 under Income Tax Act.

The following amendments have been made to sections 115R and 115T with effect from April 1,2018—

1. Where any income is distributed by a Mutual Fund (being an Equity Oriented Fund), the mutual fund shall be liable to pay additional income-tax at the rate of 10% on income so distributed [+ 12% of such tax as surcharge + 4% of tax and surcharge as Health and Education Cess, effective rate: 12.9422 %].

2. For this purpose, Equity Oriented Fund will have the same meaning assigned to it in the new section 112A.

Amendment at a Glance for A.Y. 2019-20
Amendment to [Sec.-2(24)]	Amendment to [Sec.-2(42A)]	Amendment to [Sec.-9]
Amendment to [Sec.-16 & 17]	Amendment to [Sec.-28]	Amendment to [Sec.-36 & 40A]
Amendment to [Sec.-43]	Amendment to [Sec.-43CA]	Amendment to [Sec.-44AE]
Amendment to [Sec.-49]	Amendment to [Sec.-56(2)(x)]	Amendment to [Sec.-79]
Amendment to [Sec.-80AC]	Amendment to [Sec.-80D]	Amendment to [Sec.-80DDB]
Amendment to [Sec.-80IAC]	Amendment to [Sec.-80JJAA]	Amendment to [Sec.-80PA]
Amendment to [Sec.-80TTA]	Amendment to [Sec.-80TTB]	Amendment to [Sec.-115AD]
Amendment to [Sec.-115BA]	Amendment to [Sec.-115BBE]	Amendment to [Sec.-115JB]
Amendment to [Sec.-115O & 115Q]	Amendment to [Sec.-115R & 115T]	Amendment to [Sec.-139A]
Amendment to [Sec.-140]	Amendment to [Sec.-143]	Amendment to [Sec.-145A & 145B]
Amendment to [Sec.-193]	Amendment to [Sec.-194A]	Amendment to [Sec.-145O & 245Q]
Amendment to [Sec.-271FA]	Amendment to [Sec.-276CC]	Amendment to [Sec.-286]

Amendment to [ Section-115-R & 115-T ] w.e.f. Assessment Year 2019-2020 under Income Tax Act.

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