Section 194LBC of the Income Tax Act, 1961 has been inserted with effect from 1st June 2016. Deductor: A person making payment to an investor in respect of an investment in a Securitization Trust shall be liable to deduct tax. Time of Deduction: Deduction shall be made by payer, earlier of- At the time of credit…
Section 194LBB of the Income Tax Act, 1961 has been inserted with effect from 1st June 2015 on TDS deduction on Income from Investment Funds. Time of Deduction: Deduction shall be made by payer, earlier of- At the time of credit of income to the account of the recipient or At the time of payment in…
Section 194LBA of the Income Tax Act, 1961 has been inserted with effect from 1st October, 2014. The provisions of the same are explained hereunder – The Income covered under Section 194LBA Time of Deduction Rate of Deduction Nature of Income: Income distributed by Business Trusts referred to in Sec 115UA, being of a nature…
TDS shall be deducted under Sec 194LB for Interest from Infrastructure Funds if the following conditions apply- The interest income is paid by an infrastructure debt fund referred to in section 10 (47). Interest income is paid to a non-resident or to a foreign company. Time of Deduction: Deduction shall be made by payer, earlier…