CBDT amends norms, mandates detailed income disclosures for business trusts

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CBDT amends norms, mandates detailed income disclosures for business trusts - Business Standard

Quick Summary:

The norms have been made effective from February 24.

This pertains to distributions exceeding the cost of the unit, which was brought under tax effective from the last financial year,” explained Gidwani.

Industry experts said that the amendments reflect updates in the capital gains tax provisions under the Finance Act and simplify language and disclosure norms.