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Extension of exemption to Specified Undertaking of Unit Trust of India (SUUTI) SUUTI was created by the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002[UTI Repeal Act, 2002]. It is the successor of the erstwhile Unit Trust of India (UTI) and is mandatedto liquidate the Government
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FAQ :
SUUTI is the successor to the erstwhile Unit Trust of India, created by the UTI Repeal Act, 2002, and is tasked with liquidating government liabilities related to the former UTI.
SUUTI was previously exempted from income tax until March 31, 2023, and this was later extended to March 31, 2025, by the Finance Act, 2023.
The extension to March 31, 2027, is needed because SUUTI's ongoing work, such as redeeming schemes, making payments, and handling pending litigation, is anticipated to extend beyond March 2025.
This new tax exemption period will take effect from April 1, 2025.
The tax exemption for SUUTI will now last until March 31, 2027.
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