Business Trust unit income qualifies for no tax deduction when scheduled income conditions and SPV option requirements are satisfied.

Income from units of a Business Trust may qualify for no deduction of tax at source despite the ordinary TDS requirement applicable to distributed income. Non-deduction applies only where the payment is covered by the specified Business Trust TDS entry, the income is of the nature identified in the applicable Schedule V entry, and the relevant Special Purpose Vehicle has not exercised the prescribed option. Each condition must be met for the withholding exemption to apply.

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