Amendment of section 115TA.
57. In section 115TA of the Income-tax Act, after sub-section (4), the following sub-section shall be inserted with effect from the 1st day of June, 2016, namely:-
“(5) Nothing contained in this section shall apply in respect of any income distributed by a securitisation trust to its investors on or after the 1st day of June, 2016.”.
Notes on Clauses:
Clause 57 of the Bill seeks to amend section 115TA of the Income-tax Act relating to tax on distributed income to investors.
It is proposed to amend the said section so as to provide that nothing contained in this section shall apply in respect of any income distributed by the securitisation trust to its investors on or after the 1st day of June, 2016.
This amendment will take effect from 1st June, 2016.
