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of <h1>Tax Deduction Requirements for Business Trusts Distributing Income to Unitholders Under Section 194LBA</h1> Section 194LBA establishes tax deduction requirements for business trusts distributing income to unitholders. Tax must be deducted at the time of credit or payment, whichever occurs earlier. For resident recipients, the TDS rate is 10% on interest, dividend, or rental income. For non-residents, rates vary: 5% on interest income from SPV, 10% on dividend income from SPV, and 30% (non-company) or 35% (foreign company) on rental income received by real estate investment trusts. The provision doesn't apply to dividend income if the special purpose vehicle hasn't opted for section 115BAA. Without PAN, tax is deducted at the highest applicable rate (20% or as specified).
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