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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Chapter XII-EA: Securitisation Trusts Must Withhold Tax on Distributions-25% for Individuals/HUF, 30% Others, File Annual Statement</h1> Chapter XII-EA imposes tax on income distributed by securitisation trusts: the trust must pay additional tax at 25% where distribution is to an individual or HUF and 30% for other recipients, except where the recipient is wholly tax-exempt. The payer must remit tax within 14 days of distribution and file an annual statement by 15 September detailing distributions and tax paid. No deduction is allowed to the trust for income taxed under this Chapter. Late payment attracts simple interest at 1% per month; the payer and the trust are deemed assessees in default for recovery. Definitions of investor, securities, securitised debt instrument and securitisation trust are prescribed.
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