Section - 10(35) (of Income Tax Act, 1961), Income-tax Act.
Section - 10(35) (of Income Tax Act, 1961), Income-tax Act.
Incomes not included in total income.
Any income by way of,—
(a) income received in respect of the units of a Mutual Fund specified under clause (23D); or
(b) income received in respect of units from the Administrator of the specified undertaking; or
(c) income received in respect of units from the specified company:
Provided that this clause shall not apply to any income arising from transfer of units of the Administrator of the specified undertaking or of the specified company or of a mutual fund, as the case may be.
Following second proviso shall be inserted after the first proviso to clause (35) of section 10 (of Income Tax Act, 1961) by the Finance Act, 2020, w.e.f. 1-4-2021:
Provided further that nothing contained in this clause shall apply to any income in respect of units received on or after the 1st day of April, 2020.
Explanation.—For the purposes of this clause,—
(a) "Administrator" means the Administrator as referred to in clause (a) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002);
(b) "specified company" means a company as referred to in clause (h) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002);
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