Taxability of non-exempt business trust distributions and life insurance payouts now taxable under income from other sources. Amendments to charge under Income from Other Sources sums received by unit holders from business trusts that are not exempt or taxed elsewhere, with redemption proceeds reduced by cost of acquisition, and to tax life insurance policy receipts (including bonuses) exceeding aggregate non-deducted premiums, excluding unit linked policies; omission of residency limitation for share premium taxation is also provided.
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.
Taxability of non-exempt business trust distributions and life insurance payouts now taxable under income from other sources.
Amendments to charge under Income from Other Sources sums received by unit holders from business trusts that are not exempt or taxed elsewhere, with redemption proceeds reduced by cost of acquisition, and to tax life insurance policy receipts (including bonuses) exceeding aggregate non-deducted premiums, excluding unit linked policies; omission of residency limitation for share premium taxation is also provided.
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