Income Tax Act, 2025
Section 1: Ins. by Act 27 of 1999, s. 61 (w.e.f. 11999).
1. Ins. by Act 27 of 1999, s. 61 (w.e.f. 11999).
2. Subs. by Act 20 of 2002, s. 54, for “any amount of income distributed on or before the 31st day of March, 2002 by the
Unit Trust of India to its unit holders” (w.e.f. 12003).
3. Subs. by Act 14 of 2001, s. 57, for “twenty per cent.” (w.e.f. 12001), earlier substituted by Act 10 of 2000, s. 55 (w.e.f.
12001).
4. Subs. by Act 32 of 2003, s. 56, for sub-section (2) (w.e.f. 12003), Earlier amended by 20 of 2002, s. 54 (w.e.f. 1
2003).
5. Subs. by Act 23 of 2004, s. 29, for “at the rate of twelve and one-half per cent.” (w.e.f. 92004).
6. Subs. by Act 13 of 2018, s. 42, for clause (i) to clause (iii) (w.e.f. 12018). Earlier it was amended by Act 17 of 2013,
s. 32 (w.e.f. 12013), Act 8 of 2011, s. 21 (w.e.f. 12011) and Act 22 of 2007, s. 36 (w.e.f. 12007).
501
1[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 fund shall be liable to
pay additional income-tax at the rate of five per cent on income so distributed:]
2[Provided further that] nothing contained in this sub-section shall apply in respect of any income
distributed,—
(a) by the Administrator of the specified undertaking, to the unit holders; or
3* * * * *
4[Explanation.—For the purposes of this sub-section,—
(i) “administrator” and “specified company” shall have the meanings respectively assigned to
them in the Explanation to clause (35) of section 10;
(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 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992).]
5[(2A) For the purposes of determining the additional income-tax payable in accordance with subsection (2), the amount of distributed income referred therein shall be increased to such amount as would,
after reduction of the additional income-tax on such increased amount at the rate specified in sub-section
(2), be equal to the amount of income distributed by the Mutual Fund.]
(3) The person responsible for making payment of the income distributed by the Unit Trust of India
or a Mutual Fund and the Unit Trust of India or the Mutual Fund, as the case may be, shall be liable to
pay tax to the credit of the Central Government within fourteen days from the date of distribution or
payment of such income, whichever is earlier.
6* * * *
(4) No deduction under any other provision of this Act shall be allowed to the Unit Trust of India or
to a Mutual Fund in respect of the income which has been charged to tax under sub-section (1) or
sub-section (2).
(w.e.f. 12003), Earlier amended by 20 of 2002, s. 54 (w.e.f. 1
2003).
5. Subs. by Act 23 of 2004, s. 29, for “at the rate of twelve and one-half per cent.” (w.e.f. 92004).
6. Subs. by Act 13 of 2018, s. 42, for clause
to clause
(w.e.f. 12018). Earlier it was amended by Act 17 of 2013,
s. 32 (w.e.f. 12013), Act 8 of 2011, s. 21 (w.e.f. 12011) and Act 22 of 2007, s. 36 (w.e.f. 12007).
501
1[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 fund shall be liable to
pay additional income-tax at the rate of five per cent on income so distributed:]
2[Provided further that] nothing contained in this sub-section shall apply in respect of any income
distributed,—
by the Administrator of the specified undertaking, to the unit holders; or
3* * * * *
4[Explanation.—For the purposes of this sub-section,—
“administrator” and “specified company” shall have the meanings respectively assigned to
them in the Explanation to clause
of section 10;
“infrastructure debt fund scheme” shall have the same meaning as assigned to it in clause
of regulation 49L of the Securities and Exchange Board of India (Mutual Funds) Regulations,
1996 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992).]
5[
For the purposes of determining the additional income-tax payable in accordance with subsection
The person responsible for making payment of the income distributed by the Unit Trust of India
or a Mutual Fund and the Unit Trust of India or the Mutual Fund, as the case may be, shall be liable to
pay tax to the credit of the Central Government within fourteen days from the date of distribution or
payment of such income, whichever is earlier.
6* * * *
No deduction under any other provision of this Act shall be allowed to the Unit Trust of India or
to a Mutual Fund in respect of the income which has been charged to tax under sub-section
or
sub-section