Tax treatment of business trust distributions: such income is now deemed unit holder income under clause 23FC/23FCA. Amendment removes a limiting reference so that distributed income of the character described in the statutory clauses for exempt income shall be deemed to be the income of the unit holder and charged to tax in the previous year, thereby expanding the scope of distributions treated as taxable in the hands of unit holders.
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Provisions expressly mentioned in the judgment/order text.
Tax treatment of business trust distributions: such income is now deemed unit holder income under clause 23FC/23FCA.
Amendment removes a limiting reference so that distributed income of the character described in the statutory clauses for exempt income shall be deemed to be the income of the unit holder and charged to tax in the previous year, thereby expanding the scope of distributions treated as taxable in the hands of unit holders.
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