Unit Trust of India (UTI)

Tax Glossary Definition

Unit Trust of India (UTI)

Unit Trust of India (UTI) – UTI is a government-managed mutual fund that pools money from investors to invest in diversified securities. The taxation of income from UTI schemes, such as dividends or capital gains, is similar to other mutual fund investments, subject to the provisions of the Income Tax Act.

Example: Dividend received from a UTI scheme is taxable under Income from Other Sources

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