Amendment to Tax Regime: REITs and INVITs Income Now Taxable as 'Other Income,' Closing Dual Non-Taxation Loophole.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Amendment in special tax regime for REIT & INVIT - To avoid dual Non-taxation in the hands of unit holders as well as business trust on any income distributed by such business trust therefore the amendment proposed for REIT/InVIT related to distribution by manner of 'Repayment of debt' to the unitholders is now covered under the ambit of taxation as other income (net of cost of acquisition of the unit) which earlier was not captured.....