Unit definition clarified as including beneficial interests, shares and partnership interests under income tax law. Definition focuses on the meaning of unit for income tax purposes, encompassing a unit of a business trust, a unit defined for dividend/distribution tax ... Summary
Unit definition clarified as including beneficial interests, shares and partnership interests under income tax law.
Definition focuses on the meaning of unit for income tax purposes, encompassing a unit of a business trust, a unit defined for dividend/distribution tax provisions, and the beneficial interest of an investor in an Alternative Investment Fund, and expressly including shares or partnership interests; for investment fund specific provisions, it similarly means the beneficial interest of an investor in the fund or a scheme of the fund and includes shares or partnership interests.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
