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TMI BlogInsertion of new Chapter XII-EA.X X X X Extracts X X X X X X X X Extracts X X X X ..... . Tax on distributed income to investors. (1) Notwithstanding anything contained in any other provisions of the Act, any amount of income distributed by the securitisation trust to its investors shall be chargeable to tax and such securitisation trust shall be liable to pay additional income-tax on such distributed income at the rate of (i) twenty-five per cent on income distributed to any person ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rescribed income-tax authority, a statement in the prescribed form and verified in the prescribed manner, giving the details of the amount of income distributed to investors during the previous year, the tax paid thereon and such other relevant details, as may be prescribed. (4) No deduction under any other provisions of this Act shall be allowed to the securitisation trust in respect of the incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibuted by the securitisation trust and the securitisation trust does not pay tax, as referred to in subsection (1) of section 115TA, then, he or it shall be deemed to be an assessee in default in respect of the amount of tax payable by him or it and all the provisions of this Act for the collection and recovery of income-tax shall apply. Explanation. For the purposes of this Chapter, (a) investor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f subregulation (1) of regulation 2 of the Securities and Exchange Board of India (Public Offer and Listing of Securitised Debt Instruments) Regulations, 2008 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992) and the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and regulated under the said regulations; or (ii) Special Purpose Vehicle as defined in, and regul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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