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of <h1>Finance Bill 2020 amends Section 194LBA, altering tax deduction rates on business trust income distributions.</h1> Clause 81 of the Finance Bill, 2020, amends section 194LBA of the Income-tax Act. It removes references to 'sub-clause (a)' in relation to certain income distributions by business trusts. The amendment specifies that tax must be deducted at a rate of 5% for income referred to in sub-clause (a) and 10% for income in sub-clause (b) of clause (23FC) of section 10. These changes apply to distributions to both residents and non-residents, including foreign companies, effective from April 1, 2020.
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