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Government mulls options for tax breaks to REITs and InvITs: Report

The government is reportedly still in talks with the stakeholders, and may clear its stand on the matter during a reply to questions raised on the Finance Bill, 2020.

Representative image

Representative image

The government is likely to give a tax relief to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) on account of a Dividend Distribution Tax (DDT) liability, according to a CNBC-TV18 flash.

The government is reportedly still in talks with the stakeholders, and may clear its stand on the matter during a reply to questions raised on the Finance Bill, 2020.

Builders have urged the Centre to withdraw tax on the dividend received by InvIT/REIT unitholders and provide InvITs / REITs with a single stage taxation structure as is currently available under the prevailing regulations in order to keep the product attractive to attract both foreign and domestic capital inflows.

The Finance Bill, 2020, has imposed tax on the dividend distributed to unitholders of the InvITs and REITs in the hands of the Unitholders. The Bill aims at moving the incidence of tax on dividend from the companies to the recipients.
Moneycontrol News
first published: Feb 25, 2020 05:38 pm

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