Income-tax Act, 1961 · Chapter XII: Determination of Tax in Certain Special Cases
Section 115BBB: Tax on income from units of an open-ended equity oriented fund of the Unit Trust of India or of Mutual Funds
The Income-tax Act, 1961 was repealed by the Income-tax Act, 2025 from 1 April 2026. The text is kept here because the judgments below apply it.
(1) Where the total income of an assessee includes any income from units of an open-ended equity oriented fund of the Unit Trust of India or of a Mutual Fund, the income-tax payable shall be the aggregate of—
(a) the amount of income-tax calculated on income from units of an open-ended equity oriented fund of the Unit Trust of India or of a Mutual Fund, at the rate of ten per cent; and
(b) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (a).
(2) Nothing contained in sub-section (1) shall apply in relation to any income from units of an open-ended equity oriented fund of the Unit Trust of India or of the Mutual Fund arising after the 31st day of March, 2003.
Explanation.—For the purposes of this section, the expressions —Mutual Fund‖, —open-ended equity oriented fund‖ and —Unit Trust of India‖ shall have the meanings respectively assigned to them in the Explanation to section 115T.]
Source: India Code (Legislative Department), the text of the Act as it stood before its repeal. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 115BBB
No Supreme Court judgment in our database cites this section yet.