Provisions of TDS on Securitisation Trust - Section 194LBC - Income Tax - Ready Reckoner - Income Tax

TDS on Securitisation Trust [ Section 194LBC ] Securitisation Trust required to deduct TDS at the time of payment or credit whichever is earlier under section 194LBC Payee/Investor Rate of TDS a. Resident Individual/HUF 25% b. Other Resident Payee 30% c. Non-Resident Foreign Company Rate in force where any income as aforesaid is credited to any account, whether called suspense account or by any other name, in the books of account of the person liable to pay such income, such crediting shall be deemed to be the credit of such income to the account of the payee, and the provisions of this section shall apply accordingly Application for low or nil deduction of tax at source The Central Government hereby notifies that no deduction of tax under Chapter XVII of the said Act shall be made on the payments of the nature specified in clause (23DA) of section 10 received by any securitisation trust as defined in clause (d) of the explanation below section 115TCA of the income tax act 1961. [ Notification No. 46/2016 dated 17.06.2016 ]