# The Finance Act, 2018, Section 42: Amendment of section 115R

- Act: The Finance Act, 2018 (Act 13 of 2018)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2018/section/42/

## Text

Amendment of section 115R. 42. In section 115R of the Income-tax Act, in sub-section (2),— (A) | for clause (i) to clause (iii), the following clauses shall be substituted, namely:— "(i) | twenty-five per cent on income distributed to any person being an individual or a Hindu undivided family by a money market mutual fund or a liquid fund; (ii) | thirty per cent on income distributed to any other person by a money market mutual fund or a liquid fund; (iii) | ten per cent on income distributed to any person by an equity oriented fund; (iv) | twenty-five per cent on income distributed to any person being an individual or a Hindu undivided family by a fund other than a money market mutual fund or a liquid fund or an equity oriented fund; and (v) | thirty per cent on income distributed to any other person by a fund other than a money market mutual fund or a liquid fund or an equity oriented fund:"; (B) | in the second proviso, clause (b) shall be omitted.

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