https://www.taxtmi.com/article/detailed?id=11340 Finance Act, 2023 extends section 197 certificates to income under section 194LBA for business trust distributions; treats sums over Rs.50,000 received without consideration by not ordinarily residents from residents as deemed income under section 9; disallows set off of brought forward losses and unabsorbed depreciation where presumptive taxation under sections 44BB/44BBA is followed; permits TDS under section 196A at the lower of 20% or treaty rate with a valid tax residency certificate; excludes certain non residents from higher TDS/TCS under sections 206AB/206CCA; expands section 56(2)(viib) to apply irrespective of payer residency; and extends section 10(4E) exemption to distributions on ODIs taxed in the IFSC Banking Unit. en-us Thu, 20 Apr 2023 10:07:45 +0530 Wed, 11 Feb 2026 15:59:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11340 Finance Act, 2023 extends section 197 certificates to income under section 194LBA for business trust distributions; treats sums over Rs.50,000 received without consideration by not ordinarily residents from residents as deemed income under section 9; disallows set off of brought forward losses and unabsorbed depreciation where presumptive taxation under sections 44BB/44BBA is followed; permits TDS under section 196A at the lower of 20% or treaty rate with a valid tax residency certificate; excludes certain non residents from higher TDS/TCS under sections 206AB/206CCA; expands section 56(2)(viib) to apply irrespective of payer residency; and extends section 10(4E) exemption to distributions on ODIs taxed in the IFSC Banking Unit. Articles Income Tax Thu, 20 Apr 2023 10:07:45 +0530 https://www.taxtmi.com/article/detailed?id=11340