Home > Income Tax > TDS > TDS from Income from Units of Business Trust – Section 194LBA

TDS from Income from Units of Business Trust – Section 194LBA

This section is inserted by Finance Act 2014 and is applicable from 1st Oct, 2014.

Tax is to be deductible if a business trust distributes any income referred to in section 115UA being of the nature referred to in section 10(23FC) to its unit holder.

Time of deduction – Tax is deductible at the time of credit of such payment to the account of the payee or at the time of payment in cash or by cheque/dd or any other mode whichever is earlier.

Rate of TDS – If the recipient is resident in India – 10%
If the recipient is a non – resident or a foreign company – 5%
If the recipient doesn’t have PAN or doesn’t furnish PAN to deductor – 20%

About Rohit Pithisaria

Rohit Pithisaria founded TaxAdda in July 2012. He is Practicing Chartered Accountant from Jaipur and been in practice for more than 7 years. He is actively writing from very beginning of his professional career and is author of various tax articles and blogs.
close-link
Subscribe to our Newsletter for weekly updates
GST, Income Tax, Finance and more
Give it a try, you can unsubscribe anytime.
close-link
close-link