TMI BlogTax on income of Unit Holder and Business Trust - Section 115UAX X X X Extracts X X X X X X X X Extracts X X X X ..... rtion in the hands of the unit holder as it had been received by, or accrued to, the business trust. Subject to the provisions of section 111A and section 112 , the total income of a business trust shall be charged to tax at the maximum marginal rate. If any previous year, the distributed income or any part thereof, received by a unit holder from the business trust is of the nature as ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ability in hands of Business Trust (REIT/Invit) Interest Dividend received from SPV shall be fully exempt under section 10(23FC) . Rental Income of REIT from renting/leasing/letting out any Real Estate Asset owned by REIT shall be exempt under section 10(23FCA) . Long term Capital gain income of business trust shall be taxable If equity oriented or equity orient ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Resident - Normal Tax Rates Non-Resident/ Foreign Company - For Interest @ 5%, For Dividend @10% Rental Income received by Unit Holders from REIT shall be taxable in hands of Unit Holders as it was exempt in hands of REIT under section 10(23FCA) at normal tax rates in all cases weather Resident/Non-Resident/Foreign Company. Long term capital gain on transfer of u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Unit Holder's u/s 10(23FD) . Important Notes SPV means Indian Company in which Business Trust holds controlling Interest any specific percentage of shareholding. (currently 50% or more) Income distributed by Business trust to its Unit Holders shall be of the same nature in the same proportion in hands of Unit Holders as it had been received by Business trust - S ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
