Amendment of section 194LBA.

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..... in case of income of the nature referred to in sub-clause (a ) and ten per cent. in case of income of the nature referred to in sub-clause (b ), of the said clause shall be substituted. - Clause 81 of the Bill seeks to amend section 194LBA of the Income-tax Act relating to certain income from units of a business trust. The said section, inter alia, requires business trust to deduct tax on distribu .....

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..... is to be deducted at the rate of five per cent. in case of income the nature referred to in sub-clause (a) of clause (23FC) of section 10 and at the rate of ten per cent. in case of income of the nature referred to in sub-clause (b) of the said clause. These amendments will take effect from 1st April, 2020. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Ta .....

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