Rent payments to eligible REITs for directly owned specified real estate assets are excluded from tax deduction at source. No deduction of tax at source on rent applies where rent otherwise covered by Section 393(1), Table Sl. No. 2(ii), is credited or paid to a Business Trust ... Summary
Rent payments to eligible REITs for directly owned specified real estate assets are excluded from tax deduction at source.
No deduction of tax at source on rent applies where rent otherwise covered by Section 393(1), Table Sl. No. 2(ii), is credited or paid to a Business Trust that is a Real Estate Investment Trust (REIT). The exemption requires the rent to relate to a real estate asset specified in Schedule V, Table Sl. No. 4, identified as industrial machinery, directly owned by the REIT. When these conditions are satisfied, the rent payment is excluded from TDS.
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