Income Tax Act, 2025
Section 1: The Explanation 2 omitted by Act 23 of 2004, s. 5 (w.e.f. 12004).
1. The Explanation 2 omitted by Act 23 of 2004, s. 5 (w.e.f. 12004).
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1[(23FBA) any income of an investment fund other than the income chargeable under the head
“Profits and gains of business or profession”;
(23FBB) any income referred to in section 115UB, accruing or arising to, or received by, a unit
holder of an investment fund, being that proportion of income which is of the same nature as income
chargeable under the head “Profits and gains of business or profession”.
Explanation.—For the purposes of clauses (23FBA) and (23FBB), the expression “investment
fund” shall have the meaning assigned to it in clause (a) of the Explanation 1 to section 115UB;]
2[(23FC) any income of a business trust 3[by way of—
(a) interest received or receivable from a special purpose vehicle; or
(b) divided referred to in sub-section (7) of section 115-O].
Explanation.—For the purposes of this clause, the expression "special purpose vehicle" means an
Indian company in which the business trust holds controlling interest and any specific percentage of
shareholding or interest, as may be required by the regulations under which such trust is granted
registration;
1[(23FCA) any income of a business trust, being a real estate investment trust, by way of renting
or leasing or letting out any real estate asset owned directly by such business trust.
Explanation.—For the purposes of this clause, the expression "real estate asset" shall have the
same meaning as assigned to it in clause (zj) of sub-regulation (1) of regulation 2 of the Securities and
Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 made under the
Securities and Exchange Board of India Act, 1992 (15 of 1992);]
(23FD) any distributed income, referred to in section 115UA, received by a unit holder from the
business trust, not being that proportion of the income which is of the same nature as the income
referred to4[in sub-clause (a) of clause (23FC)] 3[or clause (23FCA)];]
5* * * * *
6[(24) any income chargeable under the heads “Income from house property” and “Income from
other sources” of—
(a) a registered union within the meaning of the Trade Unions Act, 1926 (16 of 1926),
formed primarily for the purpose of regulating the relations between workmen and employers or
between workmen and workmen;
(b) an association of registered unions referred to in sub-clause (a);]
any income of an investment fund other than the income chargeable under the head
“Profits and gains of business or profession”;
any income referred to in section 115UB, accruing or arising to, or received by, a unit
holder of an investment fund, being that proportion of income which is of the same nature as income
chargeable under the head “Profits and gains of business or profession”.
Explanation.—For the purposes of clauses
and
of the Explanation 1 to section 115UB;]
2[
any income of a business trust 3[by way of—
interest received or receivable from a special purpose vehicle; or
divided referred to in sub-section
of section 115-O].
Explanation.—For the purposes of this clause, the expression "special purpose vehicle" means an
Indian company in which the business trust holds controlling interest and any specific percentage of
shareholding or interest, as may be required by the regulations under which such trust is granted
registration;
1[
any income of a business trust, being a real estate investment trust, by way of renting
or leasing or letting out any real estate asset owned directly by such business trust.
Explanation.—For the purposes of this clause, the expression "real estate asset" shall have the
same meaning as assigned to it in clause
of sub-regulation
of regulation 2 of the Securities and
Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 made under the
Securities and Exchange Board of India Act, 1992 (15 of 1992);]
any distributed income, referred to in section 115UA, received by a unit holder from the
business trust, not being that proportion of the income which is of the same nature as the income
referred to4[in sub-clause
of clause
any income chargeable under the heads “Income from house property” and “Income from
other sources” of—
a registered union within the meaning of the Trade Unions Act, 1926 (16 of 1926),
formed primarily for the purpose of regulating the relations between workmen and employers or
between workmen and workmen;
an association of registered unions referred to in sub-clause