Income distribution reporting by business trusts requires categorisation of income and detailed unit-holder disclosures and supporting certificates. Form No. 64A requires business trusts to report aggregate income and allocate it across specified categories - interest, renting/leasing/letting, dividend (with alternative treatment depending on special purpose vehicle tax option) and other income - showing proportions to total income, and to provide a schedule of unit holders with amounts distributed attributable to each income category, together with prescribed attachments, declaration by an authorised signatory and verification by the accountant.
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.
Income distribution reporting by business trusts requires categorisation of income and detailed unit-holder disclosures and supporting certificates.
Form No. 64A requires business trusts to report aggregate income and allocate it across specified categories - interest, renting/leasing/letting, dividend (with alternative treatment depending on special purpose vehicle tax option) and other income - showing proportions to total income, and to provide a schedule of unit holders with amounts distributed attributable to each income category, together with prescribed attachments, declaration by an authorised signatory and verification by the accountant.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
