Taxability of non-exempt business trust distributions and life insurance payouts now taxable under income from other sources. Amendments to charge under Income from Other Sources sums received by unit holders from business trusts that are not exempt or taxed elsewhere, with ... Summary
Taxability of non-exempt business trust distributions and life insurance payouts now taxable under income from other sources.
Amendments to charge under Income from Other Sources sums received by unit holders from business trusts that are not exempt or taxed elsewhere, with redemption proceeds reduced by cost of acquisition, and to tax life insurance policy receipts (including bonuses) exceeding aggregate non-deducted premiums, excluding unit linked policies; omission of residency limitation for share premium taxation is also provided.
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