22 August 2019
i am individual and i have invested in funds of Edelweiss Credit Oppurtunites Fund (ECOF) and fund has derived income from various activities ( business, capital gain, other sources, dividend) and it has distributed the income to unit holders in the same proportion the fund has earned income and it has deducted TDS under section 194LBB. What should be the treatment of income in the hands of unitholders? Whether the income is exempt in the hands of unit holders ? whether the income if taxable in the same nature as it is in the hands of ECOF? whether the income is exempt as pass through income?