Section 194LBB of ITA, 1961 : Section 194Lbb: Income In Respect Of Units Of Investment Fund
ITA, 1961
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Explanation using Example
Imagine an investment fund in India has made profits from its investments and plans to distribute a portion of these profits to its investors, who hold units in the fund. Mr. Sharma, a resident of India, is one of the unit holders in this fund. The fund decides to distribute an income of INR 100,000 to Mr. Sharma.
As per Section 194LBB of the Income-tax Act, 1961, before the fund can release the pa...
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