Tax withholding exemption for interest payable by special purpose vehicles to business trusts, excluding TDS deduction. The Bill inserts an exception to the deduction of tax at source so that interest income payable by a special purpose vehicle to a business trust, characterised under the relevant exemption provision, is not subject to tax deduction at source, thereby creating an explicit statutory exemption and altering payer withholding responsibilities.
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Provisions expressly mentioned in the judgment/order text.
Tax withholding exemption for interest payable by special purpose vehicles to business trusts, excluding TDS deduction.
The Bill inserts an exception to the deduction of tax at source so that interest income payable by a special purpose vehicle to a business trust, characterised under the relevant exemption provision, is not subject to tax deduction at source, thereby creating an explicit statutory exemption and altering payer withholding responsibilities.
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