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Bill - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Amendment of section 115TC. - securitisation trust to be ...


Amendment to Section 115TC: Securitisation Trusts Now Assessee in Default for Compliance and Tax Treatment Clarity.

March 1, 2016

Act Rules     Bill

Amendment of section 115TC. - securitisation trust to be assessee in default.- proposed to amend serious destination and terms

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  1. The assessee, a trust, claimed to be taxed at the same rate applicable to its beneficiary u/s 115BAA. However, this claim was dismissed as the assessee was not treated...

  2. Assessee in default u/s 201 - TDS u/s 194LBC - Income in respect of investment in securitisation trust - the assessee was not able to file form 26A before the lower...

  3. Insertion of new section 115TCA - Tax on income from securitisation trusts. - any income accruing or arising to, or received by, a person, being an investor of a...

  4. Insertion of new Chapter XII-EB - Tax on accreted income-Interest payable for non-payment of tax by trust or institution - When trust or institution is deemed to be...

  5. Treatment of the assessee as Agent of non-resident and assessee in Default for non Deducting TDS u/s 195 - the claim of the assessee that simultaneous proceedings cannot...

  6. Treatment of assessee as trust or AOP - the observations of taxability of trust and income being offered to tax in the hands of the beneficiary are all inter-dependent...

  7. ITAT determined that a registered charitable trust's income should be taxed at normal rates rather than maximum marginal rates, despite undefined trustee shares. While...

  8. This case deals with the tax liability u/s 115BBC(1) for anonymous donations received in the "Hundi" by a charitable and religious trust. The key points are: The...

  9. Assessment of trust as Association of Persons (AOP) - family trust - rate of tax - maximum marginal rate or slab rates - Assessee family trust has only income from other...

  10. Insertion of new section 194LBC - Income in respect of investment in securitisation trust. - New TDS - where any income is payable to an investor in respect of an...

  11. Denial of exemption u/s 11 & 12 - Assessment of trust - Taxation at Maximum Marginal Rate (MMR) - charging the assessee as per the provisions of section 164(1) or 164(2)...

  12. Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

  13. Exemption u/s 11 - grant of registration u/s 12AA rejected - private religious trust or public trust - If the assessee wanted grant of registration under section 12AA of...

  14. The provisions of s. 221 providing for penalty payable when tax is in default applies to both the situations, i.e., when assessee is in default in respect of the...

  15. Disallowance u/s 40(a)(ia) for non-deduction of tax at source (TDS) - assessee in default - Assessee has paid interest u/s 201(1A) for non-deduction/short deduction of...

 

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