Insertion of new Chapter XII-FA

In force Act 25 of 2014 As on 10 Oct 2026

Act 25 of 2014 Ministry Finance

Section 44 of the Finance Act, 2014 deals with insertion of new Chapter XII-FA. Insertion of new Chapter XII-FA. 44. After Chapter XII-F of the Income-tax Act, the following Chapter shall be inserted with effect from the 1st day of April, 2015, namely:— "CHAPTER XII-FA SPECIAL PROVISIONS RELATING TO BUSINESS TRUSTS 115UA.

Insertion of new Chapter XII-FA.
44. After Chapter XII-F of the Income-tax Act, the following Chapter shall be inserted with effect from the 1st day of April, 2015, namely:—
"CHAPTER XII-FA
SPECIAL PROVISIONS RELATING TO BUSINESS TRUSTS
115UA. Tax on income of unit holder and business trust.—(1) Notwithstanding anything contained in any other provisions of this Act, 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.
(2) Subject to the provisions of section 111A and section 112, the total income of a business trust shall be charged to tax at the maximum marginal rate.
(3) If in any previous year, the distributed income or any part thereof, received by a unit holder from the business trust is of the nature as referred to in clause (23FC) of section 10, then, such distributed income or part thereof shall be deemed to be income of such unit holder and shall be charged to tax as income of the previous year.
(4) 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, within such time and in such form and manner as may be prescribed, giving the details of the nature of the income paid during the previous year and such other details as may be prescribed.".
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Section 44, The Finance Act, 2014 (Act 25 of 2014).

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Questions about Section 44

What does Section 44 of the Finance Act deal with?

Section 44 of the Finance Act is headed "Insertion of new Chapter XII-FA". Insertion of new Chapter XII-FA. 44. After Chapter XII-F of the Income-tax Act, the following Chapter shall be inserted with effect from the 1st day of April, 2015, namely:— "CHAPTER XII-FA SPECIAL PROVISIONS RELATING TO BUSINESS TRUSTS 115UA.

How do I find court cases under Section 44 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2014 44, section 44 Finance Act 2014, section 44 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 44 of the Finance Act, and has it changed?

Its own text turns on section 10 (Amendment of section 24), section 112 (Amendment of Third Schedule), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2014 as Act 25 of 2014. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

First Schedule. THE FIRST SCHEDULE7973 words
2. Income-tax3522 words
114. Amendment of Act 32 of 19941078 words
3. Amendment of section 21041 words
Seventh Schedule. THE SEVENTH SCHEDULE908 words
76. Substitution of new section for section 285BA878 words

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