Non-resident REIT distributions require business trusts to withhold tax at rates in force upon credit or payment.

Section 393(2), Table Sl. No. 7 requires a Business Trust to deduct tax at source on qualifying distributed income paid or credited to a non-resident unit holder other than a company, or to a foreign company. The income must be referred to in section 223 and be of the nature specified in Schedule V, Table Sl. No. 4. Tax is deductible at the rates in force at the earlier of credit or payment. No monetary threshold applies.

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