Tax on income from securitisation trusts: income treated as if investors received it directly, with deeming and reporting duties. Income distributed by securitisation trusts is taxable in the hands of investors as if the investments had been made directly by them; such income retains its nature and proportion when treated in the investor's hands. Income of the trust not paid or credited to investors is deemed credited to their accounts on the last day of the previous year in their entitlement proportion. The trust and the person paying on its behalf must furnish prescribed statements to the taxpayer and tax authorities, and amounts taxed as accrued are not to be taxed again when actually paid.
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.
Tax on income from securitisation trusts: income treated as if investors received it directly, with deeming and reporting duties.
Income distributed by securitisation trusts is taxable in the hands of investors as if the investments had been made directly by them; such income retains its nature and proportion when treated in the investor's hands. Income of the trust not paid or credited to investors is deemed credited to their accounts on the last day of the previous year in their entitlement proportion. The trust and the person paying on its behalf must furnish prescribed statements to the taxpayer and tax authorities, and amounts taxed as accrued are not to be taxed again when actually paid.
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