Section 115TC: Securitisation trust to be assessee in default

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

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.

Where this provision sits

Act	The Income-tax Act, 1961
Section	115TC
Marginal note	Securitisation trust to be assessee in default
Jurisdiction	Central
Status	Repealed

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