Part IIIAMENDMENT TO THE ELECTION COMMISSION (CONDITIONS OF SERVICE OF ELECTION COMMISSIONERS AND TRANSACTION OF BUSINESS) ACT, 1991 (From Clause 144 )
Tax treatment of business trust distributions: such income is now deemed unit holder income under clause 23FC/23FCA. Amendment removes a limiting reference so that distributed income of the character described in the statutory clauses for exempt income shall be deemed to ... Summary
Tax treatment of business trust distributions: such income is now deemed unit holder income under clause 23FC/23FCA.
Amendment removes a limiting reference so that distributed income of the character described in the statutory clauses for exempt income shall be deemed to be the income of the unit holder and charged to tax in the previous year, thereby expanding the scope of distributions treated as taxable in the hands of unit holders.
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