Section 115TA:
Tax on distributed income to investors.
1(1) Notwithstanding anything contained in any
other provisions of the Act, any amount of income distributed by the securitisation trust to its investors
shall be chargeable to tax and such securitisation trust shall be liable to pay additional income-tax on such
distributed income at the rate of—
(i) twenty-five per cent. on income distributed to any person being an individual or a Hindu
undivided family;
(ii) thirty per cent. on income distributed to any other person:
Provided that nothing contained in this sub-section shall apply in respect of any income
distributed by the securitisation trust to any person in whose case income, irrespective of its nature
and source, is not chargeable to tax under the Act.
(2) The person responsible for making payment of the income distributed by the securitisation trust
shall be liable to pay tax to the credit of the Central Government within fourteen days from the date of
distribution or payment of such income, whichever is earlier.
2
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(4) No deduction under any other provisions of this Act shall be allowed to the securitisation trust in
respect of the income which has been charged to tax under sub-section (1).
3
(5) Nothing contained in this section shall apply in respect of any income distributed by a
securitisation trust to its investors on or after the 1st day of June, 2016.
Notes:
1. Ins. by Act 17 of 2013, s. 33 (w.e.f. 1-6-2013).
2. Sub-section (3) omitted by Act 25 of 2014, s. 43 (w.e.f. 1-4-2015).
3. Ins. by Act 28 of 2016, s. 59 (w.e.f. 1-6-2016).