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Insertion of new section 115TCA.

Section 61 - DIRECT TAXES - Finance Act - Section 61 - 61. 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 the 1st day of April, 2017, namely:- Tax on income from securitization trusts. 115TCA. (1) Notwithstanding anything contained in this Act, any income accruing or arising to, or received by, a person, being an investor of a securitisation trust, out of investments made in the secur .....

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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 have been 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. (4) The person responsible for crediting or making payment of the .....

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