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TMI BlogMEMORANDUM REGARDING DELEGATED LEGISLATIONX X X X Extracts X X X X X X X X Extracts X X X X ..... eeks to insert a new Chapter XII-EA to provide for special provisions relating to tax on distributed income by securitisation trusts. This clause seeks to insert new sections 115TA to 115TC. The said clause 30 seeks to insert a new section 115TA to provide for tax on distributed income to investors. Subsection (3) of the said section proposes to confer power on the Board to make rules in respect of the form, manner of furnishing the statement, giving the details of the amount of income distributed to investors during the previous year, the tax paid thereon and such other relevant details to the income-tax Authority. The Explanation to new section 115TC seeks to define various terms specified therein. Clause (d) of the said Explanation defin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... matters, such as, the class or classes of persons who shall be required to furnish the return in electronic form; the form and the manner in which the return in electronic form may be furnished; the documents, statements, receipts, certificates, audit reports, reports of registered valuer or any other documents which may not be furnished along with the return in electronic form and the computer resource or electronic record to which such return may be transmitted under section 14B. Sub-clause (L) of clause 93 of the Bill seeks to insert a new sub-section (1J) in section 95 of Chapter V of the Finance Act, 1994 relating to removal of difficulties. The proposed sub-section empowers the Central Government to issue an order to remove any diffic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which and the particulars required to be mentioned in the return which is to be delivered or cause to be delivered or furnished in respect of commodities transaction tax. In sub-clause (3) of clause 111 of the Bill , it is proposed to empower the Board to make rules in respect of the time within which refund of the commodities transaction tax is to be made to the seller from whom the amount was collected. Clause 119 of the Bill seeks to provide that an assessee aggrieved by any assessment order made by the Assessing Officer may appeal to the Commissioner of Income-tax (Appeals) within thirty days from the date of receipt of the order of the Assessing Officer. Sub-clause (2) of clause 119 of the Bill seeks to confer power on the Board to mak ..... X X X X Extracts X X X X X X X X Extracts X X X X
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