Section 194LBA of Indian Income Tax Act

section 194LBA

Under section 194LBA of the income tax act, where any distributed income referred to in section 115UA; being of the nature referred as in clause (23FC) of section 10, is payable by a business trust to its unit holder being a resident; the person liable for making payment, shall deduct income tax at 10%; at the time of credit of such payment to the account of the payee; or at the time of payment thereof in cash or by cheque or draft or by any other mode; whichever is earlier.…

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Capital Gains Account Scheme Need To Know About

Capital Gains Account Scheme

What Every Investor Needs to Know About Capital Gains Account Scheme Capital Gains Account Scheme launched in 1988; is an account you can open with an authorized bank and deposit the money from long-term capital gains; which will be utilized for buying or building a house for availing the capital gains tax exemption U/S 54 or 54F of the Income Tax Act. Capital Gains Account Scheme You can avoid tax on long-term capital gains by investing either the profit or sales proceeds in buying or building a residential property. However,…

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