prpri Section 194F TDS on Payments on account of repurchase of units by Mutual Fund or UTI Section 194F TDS on Payments on account of repurchase of units by Mutual Fund or UTI

Section 194F TDS on Payments on account of repurchase of units by Mutual Fund or Unit Trust of India (UTI)

1) Who is responsible to deduct tax under section 194F of Income Tax Act, 1961?

The person responsible for paying to any person any amount referred to in section 80CCB.

2) When to Deduct TDS under Section 194F?

Tax is deductible at the time of payment.

3) Rate of TDS under Section 194F

The rate of tax deduction u/s 194F is 20%.(15% w.e.f. 14.05.2020 to 31.03.2021)

TDS on Payments on account of repurchase of units by Mutual Fund or Unit Trust of India

Extract of Section 194F TDS on Payments on account of repurchase of units by Mutual Fund or Unit Trust of India

194F. The person responsible for paying to any person any amount referred to in sub-section (2) of section 80CCB shall, at the time of payment thereof, deduct income-tax thereon at the rate of twenty per cent.

Section 194F

(Republished with amendments)

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