Amendment of Section 115r
In section 115R of the Income-tax Act, in sub-section (2), with effect from the 1st day of June, 2011,--
(a) in clause (i), for the words "income distributed", the words "income distributed to any person being an individual or a Hindu undivided family" shall be substituted;
(b) after clause (i), the following clause shall be inserted, namely:--
"(ia) thirty per cent. on income distributed to any other person by a money market mutual fund or a liquid fund;";
(c) in clause (iii), for the words "twenty per cent.", the words "thirty per cent." shall be substituted.