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

Central Government Act

(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;] 7[

1. Ins. by Act 16 of 1975, s. 6 (w. e. f. 1- 4- 1975 ). 2. Ins. by Act 17 of 1966, s. 10 (w. e. f. 1- 4- 1964, vide Act 20 of 1967, s. 45). 3. Subs. by s. 10, ibid., for" or super profits tax" (w. e. f. 1- 4- 1964, vide Act 20 of 1967, s. 45). 4. Ins. by Act 3 of 1976, s. 2 (w. e. f. 24- 1- 1976 ). 5. Omitted by Act 21 of 1984, s. 54 (w. e. f. 1- 4- 1985 )