Income-tax Act, 1961
Section - 194K - Income in respect of units
Income in respect of units.194K. Any person responsible for paying to a resident any income in respect of-
shall, at the time of credit of such income to the account of the payee or at the time of payment thereof by any mode, whichever is earlier, deduct income-tax thereon at the rate of ten per cent:Provided that the provisions of this section shall not apply-
| (a) | - | units of a Mutual Fund specified under clause (23D) of section 10; or |
| (b) | - | units from the Administrator of the specified undertaking; or |
| (c) | - | units from the specified company, |
| (i) | - | where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited .... To read the full section download the app from Google Play store
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