Tax treatment of distributed income from business trusts excluded from unit holders' taxable income under amended provision. The amendment provides that distributed income from a business trust received by a unit holder which is of the same nature as the dividend referred to in sub-section (7) of section 115-O shall not be included in the total income of such unit holder, with effect from 1st April, 2017.
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Provisions expressly mentioned in the judgment/order text.
Tax treatment of distributed income from business trusts excluded from unit holders' taxable income under amended provision.
The amendment provides that distributed income from a business trust received by a unit holder which is of the same nature as the dividend referred to in sub-section (7) of section 115-O shall not be included in the total income of such unit holder, with effect from 1st April, 2017.
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