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of <h1>Income Tax Act Exemptions: Business Trusts and Unit Holders Under Sections 10(23FC), 10(23FCA), and 10(23FD) Explained</h1> Sections 10(23FC), 10(23FCA), and 10(23FD) of the Income Tax Act provide tax exemptions for certain incomes related to business trusts and unit holders. Section 10(23FC) exempts interest or dividend income received by a business trust from a special purpose vehicle. Section 10(23FCA) exempts income from renting or leasing real estate assets owned by a real estate investment trust. Section 10(23FD) exempts distributed income received by unit holders from a business trust, except for income similar to that in Section 10(23FC). Interest income and real estate income received by unit holders are taxable, while other incomes are exempt.
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