Applicable Section and Rule | |
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Any income distributed by a business trust to its unit holders shall be deemed to be of the same nature and in the same proportion in the hands of the unit holder as it had been received by, or accrued to, the business trust
Any person responsible for making payment of the income distributed on behalf of a business trust to a unit holder shall furnish a statement to the unit holder and the prescribed authority. Such a Statement to be furnished to unitholder by June 30 of the financial year following the previous year during which the income is distributed in Form 64B duly verified by the person distributing the income. The Statement of income to be also furnished to the Principal Commissioner or the Commissioner of Income-tax within whose jurisdiction the principal office of the business trust is situated, by the 30th November of the financial year following the previous year during which such income is distributed in Form 64A, verified by Accountant.
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