Insertion of new section 194LBA- Certain income from units of a business trust

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..... ny distributed income referred to in section 115UA, being of the nature referred to in clause (23FC) of section 10, is payable by a business trust to its unit holder being a resident, the person responsible for making the payment shall at the time of credit of such payment to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mod .....

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..... deduction of tax at the rate of five per cent. in case of non-resident unit holders and at the rate of ten per cent. in case of resident unit holders of business trust on that portion of distributed income of the trust which is taxable in the hands of unit holder. This amendment will take effect from 1st October, 2014. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Re .....

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