Section 32(1)(a) in The Unit Trust Of India Act, 1963

[Cites 0, Cited by 1] [Section 32(1)] [Section 32] [Entire Act]

Union of India - Subsection

Section 32(1)(a) in The Unit Trust Of India Act, 1963

(a)the Trust shall not be liable to pay income-tax, super-tax, super profits tax [, surtax] [Inserted by Act 17 of 1966, Section 10 (w.e.f. 1-4-1964, vide Act 20 of 1967, Section 45).] or any other tax in respect of any income, profits or gains derived by it from any source;

(aa)[in the case of an assessee who is not resident in India, being, - [Inserted by Act 3 of 1976, Section 2 (w.e.f. 24-1-1976)]

(i)an individual who is an Indian or a person of Indian origin, or

(ii)a Hindu undivided family, there shall not be included in the total income of such assessee, for the purposes of the Income-tax Act, 1961 (43 of 1961), any income received by such assessee in the previous year in respect of units acquired by such assessee from the Trust, out of funds in a Non-resident (External) Account maintained with any bank in India or by the remittance of funds in foreign exchange, in accordance, in either case, with the provisions of the Foreign Exchange Regulation Act, 1973 (46 of 1973), or any rules or orders made thereunder;]

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Union of India - Subsection

Section 32(1)(a) in The Unit Trust Of India Act, 1963