Amendment of section 115R

In force As on 11 Oct 2026

Ministry Finance Cited by 1 provision

Section 32 of the Finance Act, 2013 deals with amendment of section 115R. Amendment of section 115R. 32. In section 115R of the Income-tax Act, in sub-section (2), with effect from the 1st day of June, 2013,— (a) | in clause (ii), for the words "twelve and one-half per cent", the words "twenty-five per cent" shall be substituted;

Amendment of section 115R.
32. In section 115R of the Income-tax Act, in sub-section (2), with effect from the 1st day of June, 2013,—
(a) in clause (ii), for the words "twelve and one-half per cent", the words "twenty-five per cent" shall be substituted;
(b) after sub-clause (iii) and before the proviso, the following proviso shall be inserted, namely:—
"Provided that where any income is distributed by a mutual fund under an infrastructure debt fund scheme to a non-resident (not being a company) or a foreign company, the mutual fund shall be liable to pay additional income-tax at the rate of five per cent on income so distributed:";
(c) in the proviso, for the words "Provided that", the words "Provided further that" shall be substituted;
(d) for the Explanation, the following Explanation shall be substituted, namely:—
'Explanation.—For the purposes of this sub-section,—
(i) "administrator" and "specified company" shall have the meanings respectively assigned to them in the Explanation to clause (35) of section 10;
(ii) "infrastructure debt fund scheme" shall have the same meaning as assigned to it in clause (1) of regulation 49L of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992).'.
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Section 32, The Finance Act, 2013.

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This section refers to

Referred to by 1

s. First Schedule First Schedule

Questions about Section 32

What does Section 32 of the Finance Act deal with?

Section 32 of the Finance Act is headed "Amendment of section 115R". Amendment of section 115R. 32. In section 115R of the Income-tax Act, in sub-section (2), with effect from the 1st day of June, 2013,— (a) | in clause (ii), for the words "twelve and one-half per cent", the words "twenty-five per cent" shall be substituted;

How do I find court cases under Section 32 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2013 32, section 32 Finance Act 2013, section 32 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 32 of the Finance Act, and has it changed?

Its own text turns on section 10 (Insertion of new section 43CA), Income-tax Act 115R (Tax on distributed income to unit holders), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 2013. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. First Schedule7233 words
2. Income-tax3208 words
26. Insertion of new Chapter X-A1952 words
103. Amendment of Act 32 of 19941412 words
5. Amendment of section 101253 words
39. Insertion of new section 144BA1225 words

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(a)		in clause (ii), for the words "twelve and one-half per cent", the words "twenty-five per cent" shall be substituted;
(b)		after sub-clause (iii) and before the proviso, the following proviso shall be inserted, namely:—
		"Provided that where any income is distributed by a mutual fund under an infrastructure debt fund scheme to a non-resident (not being a company) or a foreign company, the mutual fund shall be liable to pay additional income-tax at the rate of five per cent on income so distributed:";
(c)		in the proviso, for the words "Provided that", the words "Provided further that" shall be substituted;
(d)		for the Explanation, the following Explanation shall be substituted, namely:—
		'Explanation.—For the purposes of this sub-section,—

(i)		"administrator" and "specified company" shall have the meanings respectively assigned to them in the Explanation to clause (35) of section 10;
(ii)		"infrastructure debt fund scheme" shall have the same meaning as assigned to it in clause (1) of regulation 49L of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992).'.