ARCs to get complete pass through of Income Tax

In order to get more investment in Asset Reconstruction Companies (ARCs) he proposed complete pass through of Income Tax to securitization trusts including trusts of ARCs.

Securitization Trusts will be liable to deduct tax at source.

Period for getting benefit of long term Capital Gain regime in case of unlisted companies will be reduced from 3 to 2 years.

Non-banking financial companies shall be eligible for deduction to the extent of 5% of its income in respect of provision for bad and doubtful debts.

Source : Equity Bulls

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