Tax Deduction at Source on securitisation trust income: distinct resident and non-resident withholding regimes apply. Section 194LBC requires the person responsible for paying income to an investor from investments in specified securitisation trusts occurring after section 115TCA to deduct tax at the time of credit or payment. It prescribes differentiated withholding treatment for resident payees by payee category and mandates deduction for non-resident payees and foreign companies at the rates in force. The Explanation adopts the investor definition from the Explanation after section 115TCA and treats crediting to any account, including a suspense account, as deemed credit to the payee for deduction purposes.
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 Deduction at Source on securitisation trust income: distinct resident and non-resident withholding regimes apply.
Section 194LBC requires the person responsible for paying income to an investor from investments in specified securitisation trusts occurring after section 115TCA to deduct tax at the time of credit or payment. It prescribes differentiated withholding treatment for resident payees by payee category and mandates deduction for non-resident payees and foreign companies at the rates in force. The Explanation adopts the investor definition from the Explanation after section 115TCA and treats crediting to any account, including a suspense account, as deemed credit to the payee for deduction purposes.
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