Certificate for lower or nil tax deduction extended to business trust interest, enabling reduced TDS where exemptions justify it. The amendment extends eligibility for a certificate for deduction of tax at a lower or nil rate to sums on which tax is required to be deducted in ... Summary
Certificate for lower or nil tax deduction extended to business trust interest, enabling reduced TDS where exemptions justify it.
The amendment extends eligibility for a certificate for deduction of tax at a lower or nil rate to sums on which tax is required to be deducted in relation to business trust interest income, enabling reduced deduction where exemptions (for example, for certain sovereign wealth and pension funds) justify such reduction; the change applies prospectively from 1 April, 2023.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
