https://www.taxtmi.com/acts?id=17187 Imposition of an additional tax on income distributed by securitisation trusts makes distributed income taxable in the hands of the trust by levy of additional income-tax at differentiated rates depending on investor class, with exemption where the recipient is not otherwise chargeable. The payer/trust must remit tax within the prescribed short period and file an annual prescribed statement detailing distributions and tax paid. Non-payment attracts simple interest for each month or part month, and the payer/trust becomes a deemed assessee in default subject to the Act's recovery provisions. Deductions in respect of taxed distributed income are disallowed. en-us Fri, 01 Mar 2013 18:01:23 +0530 Sat, 02 Mar 2013 11:38:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17187 Imposition of an additional tax on income distributed by securitisation trusts makes distributed income taxable in the hands of the trust by levy of additional income-tax at differentiated rates depending on investor class, with exemption where the recipient is not otherwise chargeable. The payer/trust must remit tax within the prescribed short period and file an annual prescribed statement detailing distributions and tax paid. Non-payment attracts simple interest for each month or part month, and the payer/trust becomes a deemed assessee in default subject to the Act's recovery provisions. Deductions in respect of taxed distributed income are disallowed. Act-Rules Bills Fri, 01 Mar 2013 18:01:23 +0530 https://www.taxtmi.com/acts?id=17187