Section 115TCCentral Act

Section 115TC: Securitisation trust to be assessee in default

The Income-tax Act, 1961

Securitisation trust to be assessee in default.

If any person responsible for making payment of the income distributed by the securitisation trust and the securitisation trust does not pay tax, as referred to in sub-section (1) of section 115TA, then, he or it shall be deemed to be an assessee in default in respect of the amount of tax payable by him or it and all the provisions of this Act for the collection and recovery of income-tax shall apply.

Sec 115TB — Interest payable for non-payment of tax

Sec 115TCA — Tax on income from securitisation trusts

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