-
Mar 25, 2023
-
Government proposes tax relief for REITs, InVITS
In a relief to REITs and InVITs, the Finance Bill on Friday proposed to treat distribution from business as return of capital. While presenting the Union Budget on February 1, the government had proposed to tax income distributed by business trusts like REITs and InVITs in the form of debt repayments at the hands of unitholders.
However, the government on Friday proposed to soften the tax impact on Real estate investment trusts (REITs) and Infrastructure investment trusts (InVITs) through amendments to the Finance Bill 2023.
|