Amendment of section 194LBA.
80. In section 194LBA of the Income-tax Act, with effect from the 1st day of June, 2016,-
(i) in sub-section (1), for the words, brackets, figures and letters “in clause (23FC)”, the words, brackets, figures and letters “in sub-clause (a) of clause (23FC)” shall be substituted;
(ii) in sub-section (2), for the words, brackets, figures and letters “in clause (23FC)”, the words, brackets, figures and letters “in sub-clause (a) of clause (23FC)” shall be substituted.
Notes on Clauses:
Clause 80 of the Bill seeks to amend section 194LBA of the Income-tax Act relating to certain income from units of a business trust.
It is proposed to amend sub-sections (1) and (2) of the said section so as to give the reference of sub-clause (a) of clause (23FC) of section 10 in the said sub-sections. The said amendment is consequential in nature.
This amendment will take effect from 1st June, 2016.
