Withholding on business trust distributions requires tax deduction, lower rate for nonresident unit holders and higher rate for residents. Section 194LBA requires the person responsible for payment of distributed income of a business trust (as referred to in section 115UA and clause (23FC) of section 10) to deduct tax at the time of credit or payment. The provision prescribes differential withholding by residency, applying a lower deduction for nonresident unit holders (excluding companies) and a higher deduction for resident unit holders, and takes effect from 1 October 2014.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Withholding on business trust distributions requires tax deduction, lower rate for nonresident unit holders and higher rate for residents.
Section 194LBA requires the person responsible for payment of distributed income of a business trust (as referred to in section 115UA and clause (23FC) of section 10) to deduct tax at the time of credit or payment. The provision prescribes differential withholding by residency, applying a lower deduction for nonresident unit holders (excluding companies) and a higher deduction for resident unit holders, and takes effect from 1 October 2014.
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