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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 223: Business trust distributions retain character, taxed at maximum marginal rate subject to sections 196, 197 and 198</h1> Section 223 imposes a deeming rule that distributions by a business trust retain the same character and proportion in the hands of unit holders, charges the trust's total income at the maximum marginal rate subject to sections 196, 197 and 198, treats specified Schedule V items as unit-holder income in the year of receipt, excludes amounts under section 92(2)(k) from the deeming rule, and requires the payer to furnish prescribed statements to unit holders and authorities. Compared with the earlier bill, the final text adds section 198 to the subject-to clause, changes 'as prescribed' to 'as may be prescribed,' and omits an explanatory reference to SEBI regimes.
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