Chapter XIIEA- Sec 115TCA
Taxation of Income | Investor – fund enjoys pass through status
Investment income is exempt for a fund u/s 10(23DA) |
As applicable for the investor |
Nature of Income | Same nature and in the same proportion in the hands of the investor as it is for the securitisation trust | |
Applicability of distribution tax | There shall be no distribution tax on incomes distributed by an investment fund | |
Deemed distribution of income | Any investment income of the investment fund, if not paid or credited to the investor shall be deemed to have been credited to the account of the investor on 31st March of the previous year in which he is entitled to receive | |
Furnishing information to the investor | In prescribed Form within prescribed time | |
Furnishing information to the Principal Commissioner /CIT | In prescribed Form within prescribed time |
Note:
Securitisation trust means a trust being a:
Any income which has been included in total income of the investor in a previous year, on accrual basis, shall not be included in the total income of such person in the previous year in which such income is actually paid to him by the investment fund