Reference clarification in section 194LBA to sub clause (a) of clause 23FC clarifies withholding scope for business trusts. Amendment narrows the cross reference in the withholding provision to specify sub clause (a) of clause (23FC) of section 10 for income from units of a business trust by substituting that sub clause reference in both subsection (1) and subsection (2). The change is consequential and intended solely to align the withholding provision's textual reference with the specific exemption sub clause, effective from the first day of June, 2016.
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Provisions expressly mentioned in the judgment/order text.
Reference clarification in section 194LBA to sub clause (a) of clause 23FC clarifies withholding scope for business trusts.
Amendment narrows the cross reference in the withholding provision to specify sub clause (a) of clause (23FC) of section 10 for income from units of a business trust by substituting that sub clause reference in both subsection (1) and subsection (2). The change is consequential and intended solely to align the withholding provision's textual reference with the specific exemption sub clause, effective from the first day of June, 2016.
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