Tax time tactics: Reporting Reits, Invits, and RSUs
New Delhi, May 12 -- -Name withheld on request
The income from Reits and Invits (collectively referred to as 'business trusts') are accorded the status of pass-through income (PTI). Any income distributed by a business trust to its unitholders is deemed to be of the same nature and in the same proportion as it had been received by or accrued to the business trust.
The reporting of PTI is required to be done by the unitholder under the Schedule PTI of ITR 2 (as notified for FY23-24) along with the reporting under the schedule for the respective heads of income, depending on the nature of income. For e.g., in case the nature of income accrued in hands of the vusiness trust is that of short-term capital cain, such income would be required ...
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