Central Board of Direct Taxes vide Press Release dated 4th February, 2020 has clarified that under section 194K (proposed to be inserted vide Finance Bill, 2020), a Mutual fund shall be required to deduct TDS@10% only on dividend payment and no tax shall be required to be deducted by the Mutual Fund on income which is in the nature of capital gains. It is also mentioned in the Press release that necessary clarification, if required, shall be proposed in the relevant provision of the law.
For details, please refer the pdf attachment: Press Release CBDT dated 04.02.2020 Read Here
- CBIC issues clarification regarding extension of limitation under GST Law
- RBI Guidelines for Appointment of Statutory Central Auditors/ Statutory Auditors of Commercial Bank, UCBs and NBFCs
- Key Highlights of Covid Relief Packages Announced by The FM On 28th June 2021 in View of 2nd wave of Covid-19 Pandemic
- CBDT extends certain timelines & announces Exemptions for Covid-19 expenditure & ex gratia
- Compliance Check functionality of Tax Department for sections 206AB & 206CCA (applicable w.e.f 1 July 2021)