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Insertion of new section 115TCA- Tax on income from securitisation trusts.

Clause 59 - Bills - DIRECT TAXES - Bill - Clause 59 - Insertion of new section 115TCA. 59. After section 115TC of the Income-tax Act and before the Explanation occurring after the said section, the following section shall be inserted with effect from .....

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of investments made in the securitisation trust, shall be chargeable to income-tax in the same manner as if it were the income accruing or arising to, or received by, such person, had the investments by the securitisation trust been made directly by .....

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, the securitisation trust during the previous year. (3) The income accruing or arising to, or received by, the securitisation trust, during a previous year, if not paid or credited to the person referred to in sub-section (1), shall be deemed to hav .....

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editing or making payment of the income on behalf of securitisation trust and the securitisation trust shall furnish, within such period, as may be prescribed, to the person who is liable to tax in respect of such income and to the prescribed income- .....

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the total income of the person referred to in sub-section (1), in a previous year, on account of it having accrued or arisen in the said previous year, shall not be included in the total income of such person in the previous year in which such incom .....

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de that any income accruing or arising to, or received by, a person, being an investor of a securitisation trust, out of investments made in the securitisation trust, shall be chargeable to income-tax in the same manner as if it were the income accru .....

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hall be deemed to be of the same nature and in the same proportion in the hands of the person referred to in sub-section (1), as if it had been received by, or had accrued or arisen to, the securitisation trust during the previous year. Sub-section ( .....

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en credited to the account of the said person on the last day of the previous year in the same proportion in which such person would have been entitled to receive the income had it been paid in the previous year. Sub-section (4) of the proposed new s .....

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