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Govt announces relief to REITs, InVITs on minimum alternate tax

The government on Thursday said that the minimum alternate tax (MAT) would be applicable on the real estate and infrastructure investment trusts only when the actual transfer takes place.

The Finance Minister Arun Jaitely in Lok Sabha made the announcement which would provide relief to realty players who are planning to launch Real Estate Investment Trust (REITs) for the purpose of monetising their commercial assets.

“I propose to provide for exemption from levy of MAT on gains and losses arising from exchange of shares with the units of a business trust REIT/InvIT. The liability under Minimum Alternate Tax (MAT) will arise only on actual transfer of such units,” Jaitley said.

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