https://www.taxtmi.com/circulars?id=67001 Revised framework standardizes computation of Net Distributable Cash Flow (NDCF) for REITs and HoldCos/SPVs by specifying allowable additions (operating cashflows, SPV distributions, treasury income, net proceeds from asset or share sales after taxes, transaction costs, related debt settlements and planned reinvestments) and deductions (finance costs excluding amortisation, principal debt repayments except refinanced debt, contractual/statutory reserve requirements, and capital expenditure not funded by debt/equity or existing reserves). It clarifies intra-group treatment, timing for including SPV NDCF, prohibition on debt-funded distributions (limited treasury exceptions), and disclosure of restricted or surplus cash. en-us Wed, 06 Dec 2023 00:00:00 +0530 Thu, 07 Dec 2023 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67001 Revised framework standardizes computation of Net Distributable Cash Flow (NDCF) for REITs and HoldCos/SPVs by specifying allowable additions (operating cashflows, SPV distributions, treasury income, net proceeds from asset or share sales after taxes, transaction costs, related debt settlements and planned reinvestments) and deductions (finance costs excluding amortisation, principal debt repayments except refinanced debt, contractual/statutory reserve requirements, and capital expenditure not funded by debt/equity or existing reserves). It clarifies intra-group treatment, timing for including SPV NDCF, prohibition on debt-funded distributions (limited treasury exceptions), and disclosure of restricted or surplus cash. Circulars SEBI Wed, 06 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67001