Income exemption expanded to cover small savings accounts, government funds, clearing guarantee funds, investment fund and REIT income. The Bill amends section 10 to add targeted exemptions: payments from Sukanya Samriddhi accounts; receipts on behalf of Swachh Bharat Kosh and Clean Ganga ... Summary
Income exemption expanded to cover small savings accounts, government funds, clearing guarantee funds, investment fund and REIT income.
The Bill amends section 10 to add targeted exemptions: payments from Sukanya Samriddhi accounts; receipts on behalf of Swachh Bharat Kosh and Clean Ganga Fund; specified income of a Core Settlement Guarantee Fund (including contributions, penalties and investment income) subject to notification and a deeming charge when shared; refined exemptions for investment funds and unit holders distinguishing non business income from business income; exemption of direct rental income of REIT business trusts and inclusion of distributed rental like income in unit holders' total income; and exclusion of certain sponsor capital gains on exchanged units where securities transaction tax was paid.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.