- 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.
