TMI BlogInsertion of new Chapter XII-FAX X X X Extracts X X X X X X X X Extracts X X X X ..... nd business trust 115UA. (1) Notwithstanding anything contained in any other provisions of this Act, any income distributed by a business trust to its unit holders shall be deemed to be of the same nature and in the same proportion in the hands of the unit holder as it had been received by, or accrued to, the business trust. (2) Subject to the provisions of section 111A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... previous year and such other details as may be prescribed. . - Clause 43 of the Bill seeks to insert a new Chapter XII-FA in the Income-tax Act which deals with Special Provisions Relating to Business Trusts . The said Chapter proposes- (a) to provide that the distributed income in the hands of the unit holders will be of the same nature and in the same proportion as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovide a statement to the unit holder and the prescribed authority in such time and in the form and manner as may be prescribed. This amendment will take effect from 1st April, 2015 and will, accordingly, apply in relation to the assessment year 2015-16 and subsequent years. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Manageme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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