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of <h1>Finance Bill 2023: Amendment to Section 115UA Excludes Certain Income for Unit Holders from Business Trusts</h1> Clause 58 of the Finance Bill, 2023 proposes an amendment to section 115UA of the Income-tax Act, which pertains to the taxation of income for unit holders and business trusts. The amendment introduces sub-section (3A), specifying that the provisions of sub-sections (1), (2), and (3) will not apply to sums mentioned in clause (xii) of sub-section (2) of section 56, received by a unit holder from a business trust. This change is effective from April 1, 2024, impacting the assessment year 2024-2025 and onwards.
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