Non-application of tax provision for sums from business trusts clarifies that unit holders' specified receipts are excluded. The Finance Act, 2023 inserts a provision excluding from the operation of the sub section the sums referred to in the specified clause of section 56 when received by a unit holder from a business trust, creating a targeted carve out for such receipts effective from the commencement date.
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Provisions expressly mentioned in the judgment/order text.
Non-application of tax provision for sums from business trusts clarifies that unit holders' specified receipts are excluded.
The Finance Act, 2023 inserts a provision excluding from the operation of the sub section the sums referred to in the specified clause of section 56 when received by a unit holder from a business trust, creating a targeted carve out for such receipts effective from the commencement date.
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