Business Trust unit income receives no withholding where scheduled income conditions and SPV option requirements are satisfied.

Income from units of a Business Trust falling within section 393(2), Table serial no. 6, is generally subject to tax deduction at source where distributed to a non-resident. A no-deduction treatment applies where the income is of the nature identified in Schedule V, Table serial no. 3(b), and the relevant Special Purpose Vehicle has not exercised the option under section 200. These conditions are cumulative.

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