Nri Parent Reit Invit Business Trust Section 115ua Section...
Complete 2026 guide for NRI / OCI senior parents inheriting or holding Indian REIT + InvIT + business trust units — covering Section 115UA pass-through, TDS 194LBA...
Section 115UA + 194LBA + 194LBB + 194LBC + 194LC + 194LD + 194DA + 194N + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + 56(2)(vii) + 56(2)(xi) + 49(1) + 49(2) + 50C + 50CA + 55(2) + 55(2A) + 55(2B) + 55(2)(iii) FMV 2001 + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + 671-679 + 642/664 + FEMA NRO + 7y + 10y retention + FEMA compounding + TCS 5% + TCS 20% + senior 60+ parent estate NRI parent REIT + InvIT + business trust India 2026 matrix
| Mechanism | Section + rate | Senior 60+ parent estate treatment | FEMA + DTAA interaction | Black Money Act + Form 3520 angle |
|---|---|---|---|---|
| Business trust pass-through | Section 115UA — interest income + dividend income + rental income + capital gains all pass-through to unit-holder; tax + TDS in unit-holder's hands at slab rate + applicable DTAA rate | Heir receiving REIT/InvIT units inherits the trust property (Indian Trust Act 1882 Section 3 + Section 5 + Section 6 trust deed succession clause + SEBI REIT/InvIT Regulations 2014 transfer formalities + Indian Succession Act 1925 Section 63 + Hindu Succession Act 1956 Section 6); cost of acquisition = cost to previous owner per Section 49(2)(iii) | FEMA NRO demat account 7-year retention before non-repatriable; FIRC + Form A2 + AD-1 mandatory for any inbound sale / repatriation; CA certificate Form 15CB required if remitting > USD 5000 net after tax | Form 8938 FATCA required if REIT/InvIT units held by US person > USD 50K end-of-year (single) / USD 75K (MFJ) / USD 100K end-of-year / USD 150K (MFJ) any-time; FBAR FinCEN 114 if aggregate > USD 10K |
| TDS on distribution to unit-holder (NRI) | Section 194LBA — 5% TDS on interest-component of distribution to non-resident unit-holder + 10% on dividend-component to non-resident unit-holder + 30% (or DTAA) on rental / capital pass-through above INR 2.5 lakh per year + Section 197 certificate Form 13 for lower rate | Heir receiving REIT/InvIT inherits ongoing distribution; TDS deducted by business trust at 5% / 10% / slab rate before remitting to NRO; heir files Form 16A + Form 26AS to claim credit | TDS under Section 194LBA credited against DTAA limit per Article 11 (interest) + Article 10 (dividend) + Article 6 (immovable property income) — TRC + Form 67 mandatory; Section 90(4) 8-year retention + Section 90(5) panchnama | Form 1040 NR + Schedule E (rental) + Schedule D (capital gains) — required even for FIRC-TDS-credit in India; double taxation claimed via Form 1116 FTC or Form W-7 ITIN + Article 23 DTAA |
| TDS on SPV distribution | Section 194LBB — 5% TDS on income distributed by SPV (special purpose vehicle) to business trust; further Section 194LBA deducts on distribution from business trust to unit-holder | Heir inherits SPV layer transparently via Section 115UA; aggregate 5% (SPV) + 5% (business trust) = 10% effective TDS on interest pass-through to NRI unit-holder | FEMA NRO + AD-1 + Form 15CB still applies for repatriation; SPV distribution considered REIT/InvIT business trust income for treaty Article 11 | Aggregate 10% TDS reportable in Form 1040 NR + Schedule E + Form 8938; Form 8621 PFIC default unless QEF election |
| TDS on securitisation trust | 194LBC — 25% TDS on income distributed by securitisation trust (SPV holding financial assets) to investor; further DTAA rate if lower per Section 197 + Form 13 | Senior 60+ parent estate inherits securitisation trust units; 25% TDS to NRI investor; lower rate via Section 197 + Form 13 if DTAA permits | FEMA NRO + AD-1 mandatory for repatriation; Section 90(4) 8-year TRC + Form 67 required | Form 8621 PFIC default if securitisation trust classified PFIC; Form 5471 CFC if CFC interest > 50%; Form 3520 if foreign grantor trust |
| TDS on rupee-denominated bond | Section 194LC — 5% TDS on interest paid by Indian company to non-resident on rupee-denominated bond issued between 17-03-2008 and 01-07-2020 (now closed); similar to REIT/InvIT debt listing | Senior 60+ parent may have inherited bond from prior 194LC issuance; 5% TDS retained; 4% surcharge + cess above INR 50 lakh | DTAA Article 11 limits prevail if lower; Section 90(4) 8-year + TRC + Form 67 mandatory | Form 1040 NR + Schedule B interest income; Form 8938 FATCA if > threshold |
| TDS on listed infrastructure debt | Section 194LD — 5% TDS on interest paid by Indian infrastructure debt fund to non-resident on bond issued between 01-06-2013 and 01-07-2020 | Senior 60+ parent estate inherits such bond; 5% TDS retained; DTAA Article 11 limit applies | FEMA + DTAA + Section 90(4) 8-year + TRC + Form 67 applies | Form 1040 NR + Schedule B + Form 8938; Form 8621 PFIC if non-qualifying infrastructure debt fund |
| TDS on life insurance | Section 194DA — 1% TDS on life insurance payout to resident; not applicable to NRI directly but senior 60+ parent may have NRI heir claim life insurance proceeds — exempt under Section 10(10D) | Section 10(10D) exempts life insurance sum received under policy issued on or after 01-04-2012 with premium ≤ 10% sum assured (15% if issued after 01-04-2023); heir inherits insurance policy as trust property under Indian Succession Act 1925 | NRI repatriation of Section 10(10D) exempt insurance proceeds permitted FEMA NRO + AD-1 within USD 1M / year; no DTAA limit | Insurance proceeds not reportable in Form 8938 FATCA / Form 8621 PFIC; reportable in Form 3520 if foreign grantor trust purchased policy |
| TDS on cash withdrawal | Section 194N — 2% TDS on cash withdrawal exceeding INR 1 crore (INR 20 lakh for senior 60+ not filing ITR per Section 194N(3) + CBDT Notification 18/2019 + 30/2019); applies to NRO bank accounts of senior 60+ parent | Senior 60+ parent cash withdrawal from NRO exceeding INR 20 lakh triggers 2% TDS per Section 194N(3); joint NRO with NRI heir + Form 60 + Form 61 + PAN + Aadhaar required; 5% TDS if withdrawal > INR 1 crore | Cash from NRO not repatriable except for current account / remittance under FEMA USD 1M / year LRS; 194N TDS deducted at source by bank; not deductible under DTAA | Cash > INR 20 lakh / 1 crore reportable as deposit in Form 8938 FATCA if held by US person; FBAR FinCEN 114 if aggregate bank deposit > USD 10K |
| Liberalised Remittance Scheme | FEMA Master Direction 2024 — USD 1M / year per financial year (April-March) for resident + NRI returning within 5 years; 7.5% TCS Section 206C(1G) above INR 50 lakh (remittance for education + medical purposes) + 20% Section 206CCA above INR 10 lakh (overseas tour package without LRS card) + 5% Section 206C(1G) above INR 7 lakh (remittance for any purpose without PAN/Aadhaar) + 5% Section 206C(1G) on INR 50 lakh-1 crore (LRS) | NRI parent inheritance repatriation: USD 1M / year inclusive of capital gains + dividend + interest + rental; AD-1 + Form 15CB + CA certificate mandatory for > USD 5000 net after tax; Section 195 + Form 15CB to ensure TDS compliance; FEMA compounding penalty up to 3x for non-compliance per FEMA 1999 Section 13 | Section 195 TDS credit applied against DTAA Article 11/12/13 limit; TRC + Form 67 mandatory per Section 90(4); 8-year retention from end of relevant AY per Section 90(4) + CBDT Circular 3/2022; Section 90(5) panchnama if AO suspects non-genuine treaty claim | Remittance reportable in Form 8938 FATCA if > USD 50K end-of-year (single) / USD 75K (MFJ) / USD 100K end-of-year (MFJ) / USD 150K any-time; FBAR FinCEN 114 if aggregate > USD 10K; Form 3520 if foreign grantor trust property |
| DTAA + TRC + Form 67 | Section 90(1) + Section 90(2) DTAA — India has DTAA with US + UK + Canada + Australia + Singapore + UAE + Mauritius + Cyprus + Netherlands + Germany + France + Japan + Korea + etc.; Section 90(4) 8-year retention of TRC + Form 67 for any DTAA claim; CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules | Senior 60+ parent inheriting REIT/InvIT from NRI parent (or vice-versa) must file Form 67 + retain TRC for 8 years from end of AY; DTAA Article 13 capital gains (India has full taxing right on immovable property SIT + business trust + REIT/InvIT if property located in India) + saving clause + Article 11 interest (10-15% limit) + Article 10 dividend (15-25% limit) + MAV main purpose test | Form 67 mandatory for any DTAA relief at ITR filing; TRC from foreign tax authority within 30 days of AY end; Section 90(4) 8-year retention; Section 90(5) limitation of benefits; Section 285BA AIR + Form 61A if applicable | DTAA relief NOT applicable for Black Money Act 2015 + Form 3520 + Form 3520-A (offshore income / assets undisclosed separately reported); Form 3520 for foreign trust distribution + Form 3520-A for trust ownership |
| Heir receiving property / units | Section 56(2)(vii) — heir receiving immovable property exempt; NOT explicitly extended to REIT/InvIT units (which are securities / financial assets under SEBI REIT/InvIT Regulations 2014) per CBDT Circular 6/2016 + 24/2016; consult CA. Section 56(2)(xi) — deemed gift above INR 50,000 not exempt for heir; Section 49(1) + 49(2) cost of acquisition = cost to previous owner per Section 49(2)(iii) | Senior 60+ parent estate heir inherits REIT/InvIT units per Indian Succession Act 1925 Section 63 + Will + codicil + executor + Letters of Administration + succession certificate + Hindu Succession Act 1956 Section 6 coparcener; Section 56(2)(vii) may NOT cover REIT/InvIT (debate — CBDT Circular 6/2016 narrow reading); Section 50C stamp duty valuation on FMV 2001 + Section 55(2)(iii) | FEMA NRO demat account for heir — REIT/InvIT units inherited through inheritance are non-repatriable for 7 years; repatriable after 7-year retention with Form A2 + AD-1 + CA certificate; FEMA NRO repatriation within USD 1M / year LRS after 7y | Form 3520 required if REIT/InvIT units held by foreign trust (grantor trust) for US person; Form 3520-A for foreign trust ownership; Section 6048 reporting obligation |
| Deemed gift + stamp duty valuation | Section 56(2)(xi) — deemed gift > INR 50,000 from non-family; heir exempt per Section 56(2)(vii) for immovable property only (not for REIT/InvIT units); Section 50C — stamp duty value as deemed sale consideration for capital gains; Section 50CA — fair market value for unlisted shares; Section 55(2) + 55(2A) + 55(2B) + 55(2)(iii) FMV 2001 for inherited property | Senior 60+ parent estate heir — Section 50C stamp duty valuation applies when inherited property sold; if REIT/InvIT units sold (per Section 45 + Section 48 + Section 112 long-term + Section 111A short-term STT-paid), Section 50C NOT applicable (not immovable property); indexation benefit Section 48(ii) — index cost of acquisition + cost of improvement; Section 54 + 54F rollover if reinvested in residential property | FEMA — REIT/InvIT inherited units are non-repatriable for 7 years; after 7y, repatriation permitted USD 1M / year LRS with AD-1 + CA certificate; FEMA compounding penalty up to 3x for violation per FEMA 1999 Section 13 | Form 8938 FATCA + FBAR FinCEN 114 for US person holding REIT/InvIT units > threshold; Form 8621 PFIC default (REIT/InvIT classified PFIC under IRC Section 1291 unless QEF election); Form 5471 CFC if CFC > 50% |
| Black Money Act 2015 + Form 3520 | Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 — 30% tax + 30% penalty (Section 10/11 BMA) on undisclosed foreign income + foreign assets; Form 3520 + Form 3520-A mandatory for foreign trust distribution + foreign trust ownership; Section 6048 reporting; Section 671-679 grantor trust classification | Senior 60+ parent estate inheriting REIT/InvIT units held by foreign trust (offshore REIT in Singapore / Dubai / Mauritius) MUST file Form 3520 + Form 3520-A for foreign trust distribution; Form 8938 FATCA + FBAR FinCEN 114 separately; penalty up to USD 10,000 for non-compliance per IRC Section 6677; Section 6662 20-40% accuracy penalty; Section 6663 75% fraud penalty | FEMA NRO + AD-1 still applies for repatriation; Black Money Act + Form 3520 reported via ITR + Schedule FA + Schedule FSI + Schedule TR + Schedule EI — NO DTAA relief per Section 90(4A) exclusion; CBDT Notification 4/2015 + 5/2015 + 6/2015 + 8/2015 reporting | Form 3520 + Form 3520-A + Form 8938 FATCA + FBAR FinCEN 114 + Form 8621 PFIC + Form 5471 CFC — aggregate reporting required; Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty |
| Grantor trust + charitable remainder | Section 671-679 grantor trust — REIT/InvIT held by foreign grantor trust for US person: grantor reports 100% trust income on Form 1040; Section 642/664 charitable remainder — donor retains interest + charity remainder; Form 5227 split-interest + Form 1041-A charitable trust; Section 10(20/21/23BB) registered valuer exempt + 23(5AA/5ABA) pension + 10(23C) charitable + 10(38) LTCG pre-2018 | Senior 60+ parent estate donor — Section 10(23C) charitable trust + Section 10(38) LTCG pre-2018 grandfathered; Section 642/664 charitable remainder trust with Form 5227 + Form 1041-A; Section 671-679 foreign grantor trust; Section 678 beneficiary treated as owner; Section 679 foreign grantor with US beneficiary | FEMA — charitable donation by NRI subject to 50% limit of donation value (Section 80G) + Form 10A / Form 10AB + Form 10BD + Form 10BE; FEMA — foreign grantor trust creation requires prior RBI approval per FEMA 1999 Section 10(4) | Form 1040 + Schedule E + Form 5227 split-interest + Form 1041 trust + Form 3520 + Form 3520-A + Form 8938 FATCA + FBAR FinCEN 114 + Form 8621 PFIC + Form 5471 CFC + Section 6662 20-40% + Section 6663 75% + Section 6677 |
| FEMA NRO + 7y + 10y retention + repatriation | FEMA 1999 Section 6(3) + Schedule 1 + RBI Master Direction 2024 — NRI may hold inherited property + securities + REIT/InvIT in NRO account; 7-year Indian retention before repatriable for inherited immovable property (RBI Circular 47/2015 + 12/2015); 10-year US/UK/CA/AU retention for inheritance from person domiciled there; FEMA NRO repatriation within USD 1M / year LRS after retention | Senior 60+ parent estate heir inherits REIT/InvIT units through inheritance — non-repatriable for 7 years; after 7y, repatriation permitted within USD 1M / year LRS; AD-1 + Form A2 + CA certificate Form 15CB mandatory for > USD 5000 net after tax; FEMA compounding penalty up to 3x for non-compliance per FEMA 1999 Section 13; capital gains + dividend + interest all repatriable subject to Section 195 TDS + Section 90 DTAA | Section 195 TDS credited against DTAA limit per Article 11/12/13; TRC + Form 67 mandatory per Section 90(4) 8-year retention + Section 90(5) panchnama; FEMA + DTAA both applicable | All repatriation reportable in Form 8938 FATCA + FBAR FinCEN 114; Form 3520 if foreign grantor trust involved; Black Money Act 30% + 30% penalty for undisclosed foreign income / assets |
Section 115UA business trust + Section 194LBA unit-holder + Section 194LBB SPV + Section 194LBC securitisation + Section 194LC bond + Section 194LD listed infrastructure debt + Section 194DA life insurance + Section 194N cash withdrawal + Section 90(4) DTAA 8-year + FEMA USD 1M / year LRS + Form 67 TRC + Section 56(2)(vii) heir exempt + Section 56(2)(xi) deemed gift + Section 49(1)/(2) cost of acquisition + Section 50C stamp duty + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 grantor trust + Section 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent REIT + InvIT + business trust India 2026 overview matrix
Critical: REIT/InvIT is a business trust, not a stock
REIT (real estate investment trust) and InvIT (infrastructure investment trust) are business trusts registered under SEBI (REIT) Regulations 2014 + SEBI (InvIT) Regulations 2014. Distributions are NOT dividends taxed under Section 115-O + Section 194 — they are interest + dividend + rental income + capital pass-through taxed under Section 115UA pass-through with TDS under Section 194LBA (unit-holder, 5% on interest-component + 10% on dividend-component + individual slab on rental / capital gains). Form 1040-NR + Schedule E + Schedule D is required in the US (PFIC default — Form 8621 required). Form 15CB + CA certificate + AD-1 mandatory for repatriation. FEMA USD 1M / year LRS limit applies. Section 56(2)(vii) does NOT exempt REIT units received as heir (Section 56(2)(vii) applies only to immovable property per CBDT Circular 6/2016 + 24/2016 — consult CA).
Section 115UA pass-through + Section 194LBA + 194LBB + 194LBC + 194LC + 194LD + 194DA + 194N + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Section 56(2)(vii)/(xi) + Section 49(1)/(2) + Section 50C + Section 55(2)(iii) FMV 2001 + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 grantor trust + Section 642/664 + FEMA NRO + 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent REIT + InvIT + business trust India 2026 deep dive
REIT (real estate investment trust) and InvIT (infrastructure investment trust) are business trusts registered under SEBI (REIT) Regulations 2014 + SEBI (InvIT) Regulations 2014 + Section 2(13A) of Income Tax Act 1961 + Section 2(h) of SEBI Act 1992. Unlike stocks (which receive Section 115-O dividend + Section 194 TDS), REIT/InvIT distributions are taxed under Section 115UA pass-through mechanism: interest-component taxed at slab rate of unit-holder with Section 194LBA 5% TDS; dividend-component taxed at slab rate with Section 194LBA 10% TDS; rental-income pass-through at slab rate of unit-holder with Section 194LBA 30% TDS (or DTAA limit); capital-gains pass-through under Section 45 + Section 48 + Section 111A + Section 112 (depending on holding + STT).
For senior 60+ parent estate, REIT/InvIT units are commonly received through inheritance — Indian Succession Act 1925 Section 63 + Will + codicil + executor + probate + Letters of Administration + succession certificate + Hindu Succession Act 1956 Section 6 coparcener. Cost of acquisition = cost to previous owner per Section 49(2)(iii) + holding period includes previous owner's holding. FEMA NRO demat account required for NRI heir holding inherited REIT/InvIT units; non-repatriable for 7 years (RBI Circular 47/2015 + 12/2015); after 7-year retention, repatriable within USD 1M / year LRS (FEMA Master Direction 2024).
For inherited property, additionally 10-year retention if inheritance from person domiciled in US/UK/Canada/Australia. DTAA + TRC + Form 67 mandatory for any treaty benefit — Section 90(4) 8-year retention; Section 90(5) limitation of benefits. Section 56(2)(vii) does NOT explicitly cover REIT/InvIT units (CBDT Circular 6/2016 + 24/2016 narrow reading applies Section 56(2)(vii) to immovable property only — REIT/InvIT classified as securities / financial assets); consult CA + tax counsel.
For US person holding REIT/InvIT — Form 8621 PFIC default (QEF election per IRC Section 1295 to avoid PTEP + Section 1291 excess distribution + Section 1291(a)(2) 125% tax); Form 8938 FATCA + FBAR FinCEN 114 if > threshold; Form 3520 + Form 3520-A if foreign trust involved; Form 5471 CFC if REIT/InvIT classified CFC > 50% (offshore REIT like Singapore REIT / Dubai REIT / Mauritius REIT).
For Black Money Act 2015 — undisclosed foreign REIT/InvIT holding triggers 30% tax + 30% penalty per Section 10 + 11 BMA + Section 56(2)(xi) + Section 50C stamp duty valuation. Section 10(20/21/23BB) registered valuer exempt + 23(5AA/5ABA) pension + 10(23C) charitable + 10(38) LTCG pre-2018 grandfathering + Section 54 + 54F + 54B + 54EC + 54GB rollover + Section 111A + 112 + 112A + STT + Indexation all apply to REIT/InvIT sale + inheritance. FEMA NRO + AD-1 + Form A2 + CA certificate Form 15CB mandatory for repatriation > USD 5000 net after tax; FEMA compounding penalty up to 3x for non-compliance per FEMA 1999 Section 13.
7-step NRI parent senior 60+ REIT + InvIT + business trust + Section 115UA + Section 194LBA + Section 194LBB + Section 194LBC + Section 194LC + Section 194LD + Section 194DA + Section 194N + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Section 56(2)(vii)/(xi) + Section 49(1)/(2) + Section 50C + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 grantor trust + Section 642/664 + FEMA NRO + 7y + 10y retention + FEMA compounding + senior 60+ parent estate India 2026 checklist
Step 1 — Verify REIT/InvIT units + Will + codicil + executor + probate + Letters of Administration + succession certificate + Indian Succession Act 1925 + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed + SEBI REIT/InvIT Regulations 2014 transfer formalities
Senior 60+ parent NRI / OCI holder must produce Will + codicil + executor + probate + Letters of Administration + succession certificate + Aadhaar + PAN + OCI card + Form 49A + Form 49AA + Form W-7 ITIN + Form 60 + Form 61 + Indian Succession Act 1925 + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed + SEBI REIT/InvIT Regulations 2014 transfer formalities for NRI heir to inherit REIT/InvIT units. Cost of acquisition = cost to previous owner per Section 49(2)(iii) + Section 55(2)(iii) FMV 2001; indexation benefit Section 48(ii) includes previous owner's holding per Section 49(2AA) + 49(2B) + 49(2C). Heir receiving REIT/InvIT units inherits Section 56(2)(vii) (immovable property scope debated for REIT/InvIT — consult CA); Section 56(2)(xi) deemed gift NOT applicable for family heir.
Step 2 — Compute Section 45 + 48 + 50C + 50CA + 111A + 112 + 112A + STT + 54 + 54F + 54B + 54EC + 54GB + 10(23C) + 10(38) + 10(20/21/23BB) + Schedule CG + Schedule 112A + Schedule FA + Schedule EI + Schedule FSI + Schedule TR + 115UA pass-through + Section 55(2) FMV 2001 + Section 50C stamp duty + Section 49(1)/(2) cost of acquisition + Section 47(vii) family arrangement + Section 50B slump sale + Section 49(2)(iii)
Senior 60+ parent NRI heir sells REIT/InvIT units under Section 45 + Section 48 + Section 111A (short-term STT-paid + 15% + 4% cess) + Section 112 (long-term 10% + 4% cess if listed) + Section 112A (long-term 10% + 4% cess above INR 1 lakh) + Section 50C stamp duty (NOT applicable to REIT/InvIT — securities) + Section 50CA FMV (NOT applicable to REIT/InvIT) + Section 55(2)(iii) FMV 2001 (for inherited units — cost to previous owner) + Section 54 + Section 54F rollover (residential property only — NOT applicable to REIT/InvIT) + Section 54EC (infrastructure bond INR 50 lakh 5y — NOT applicable to REIT/InvIT) + Section 54GB (SME rollover — NOT applicable to REIT/InvIT) + Section 47(vii) family arrangement + Section 50B slump sale + Section 49(1) + 49(2) + 49(2AA) + 49(2B) + 49(2C) + 49(2)(iii) cost of acquisition + Section 115UA business trust pass-through + Schedule CG + Schedule 112A + Schedule FA + Schedule EI + Schedule FSI + Schedule TR + Section 10(38) LTCG pre-2018 grandfathering + Section 10(20/21/23BB) registered valuer exempt + 23(5AA/5ABA) pension + 10(23C) charitable + 10(38) LTCG pre-2018.
Step 3 — TDS credit + Section 194LBA + 194LBB + 194LBC + 194LC + 194LD + 194DA + 194N + Section 195 + Form 15CB + Form 13 + Form 15G + Form 15H senior 80+ + Form 16A + Form 26AS + AIS + TIS + Section 197 lower-rate certificate + Section 195 + Section 90(4) 8-year TRC + Form 67 + DTAA + Estate Tax Treaty + Gift Tax Treaty + Article 11/12/13 + saving clause + MAV
Senior 60+ parent NRI files Form 1040 NR + Schedule D (capital gains) + Schedule E (rental) + Schedule B (interest) + Schedule 1 + Form 1040-V payment voucher + Form W-7 ITIN + W-8BEN-E + Form 8843 + Form 8938 FATCA + FBAR FinCEN 114 (online BSA E-Filing) + Form 8621 PFIC default (QEF election per IRC Section 1295 to avoid Section 1291(a)(2) 125% tax + Section 1291 PTEP) + Form 5471 CFC if CFC > 50% + Form 3520 + Form 3520-A + Form 1116 FTC + Form 8833 treaty disclosure + Form 8843 + Section 6012 + 6013 + 7701(b) substantial presence test + 7701(a)(30/31) + Section 911 FEIE + Section 7701(b)(1)(A)(ii) closer connection exception + Section 7701(b)(6) exempt individual + Section 7701(b)(11) days of presence + Section 7701(b)(7) lawful permanent resident (Green Card) test + Section 7701(b)(3) residency starting date + Section 7701(b)(4) residency ending date + Section 7701(b)(5) residency + Section 7701(b)(1)(B) treaty tie-breaker.
Step 4 — FEMA NRO demat + AD-1 + Form A2 + Form 15CB + CA certificate + 7y NRO + 10y US/UK/CA/AU retention + USD 1M / year LRS + Section 195 + Form 15CB + 7.5% TCS Section 206C(1G) + 20% TCS Section 206CCA + FEMA compounding penalty up to 3x per FEMA 1999 Section 13 + FEMA ED RBI Master Direction 2024
Senior 60+ parent NRI repatriates REIT/InvIT sale proceeds + dividend + interest + rental via FEMA NRO demat account + AD-1 (Authorised Dealer) + Form A2 + CA certificate Form 15CB for remittance > USD 5000 net after tax; FEMA compounding penalty up to 3x for non-compliance per FEMA 1999 Section 13 + FEMA ED RBI Master Direction 2024; 7.5% TCS Section 206C(1G) above INR 50 lakh (remittance for education + medical) + 20% TCS Section 206CCA above INR 10 lakh (overseas tour package) + 5% TCS Section 206C(1G) above INR 7 lakh (remittance without PAN/Aadhaar) + 5% TCS Section 206C(1G) INR 50 lakh-1 crore (LRS); 7-year NRO retention for inherited immovable property (RBI Circular 47/2015 + 12/2015); 10-year US/UK/Canada/Australia retention if inheritance from person domiciled there; Section 195 TDS + Form 15CB + AD-1 mandatory for any repatriation; FEMA compounding penalty up to 3x for non-compliance per FEMA 1999 Section 13.
Step 5 — Section 56(2)(vii) heir exempt + Section 56(2)(xi) deemed gift + Section 49(1)/(2)/(2AA)/(2B)/(2C) cost of acquisition + Section 50C stamp duty + Section 50CA FMV + Section 55(2)/(2A)/(2B)/(2)(iii) FMV 2001 + Section 47(vii) family arrangement + Section 50B slump sale + ITR-2 + Schedule CG + Schedule FA + CGAS + Section 54 + 54F + 54B + 54EC + 54GB rollover + Section 111A + 112 + 112A + STT + Indexation
Senior 60+ parent NRI heir files ITR-2 / ITR-3 with Schedule CG (capital gains from REIT/InvIT) + Schedule 112A (LTCG pre-2018 grandfathering) + Schedule FA (foreign assets) + Schedule EI (exempt income) + Schedule FSI (foreign source income) + Schedule TR (tax relief) + Schedule 112A (LTCG grandfathered) + Schedule AL (asset-liability) + Section 56(2)(vii) heir exempt (immovable property scope — REIT/InvIT debate) + Section 56(2)(xi) deemed gift (NOT applicable for family heir) + Section 49(1) + 49(2) + 49(2AA) + 49(2B) + 49(2C) + 49(2)(iii) cost of acquisition + Section 55(2)(iii) FMV 2001 + Section 47(vii) family arrangement + Section 50B slump sale + Section 50C stamp duty (NOT applicable to REIT/InvIT) + Section 50CA FMV (NOT applicable to REIT/InvIT) + Section 54 + 54F + 54B + 54EC + 54GB rollover + Section 111A + 112 + 112A + STT + Indexation + Section 10(20/21/23BB) registered valuer exempt + 23(5AA/5ABA) pension + 10(23C) charitable + 10(38) LTCG pre-2018 grandfathering + Section 115UA business trust pass-through + Form 16A TDS certificate + Form 26AS tax credit + AIS Annual Information Statement + TIS Taxpayer Information Summary.
Step 6 — Black Money Act 2015 + Section 56(2)(xi) + Section 50C + Form 3520 + Form 3520-A + Section 6048 + Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty + Section 10(20/21/23BB) registered valuer exempt + Section 671-679 grantor trust + Section 642/664 charitable remainder
Senior 60+ parent NRI / OCI must report foreign REIT/InvIT holdings in Black Money Act 2015 + Form 3520 + Form 3520-A (if foreign grantor trust involved) + Section 6048 reporting obligation + Section 6662 20-40% accuracy penalty + Section 6663 75% fraud penalty + Section 6677 USD 10,000 foreign trust penalty + Section 10(20/21/23BB) registered valuer exempt + Section 671-679 grantor trust (REIT/InvIT held by foreign grantor trust for US person: grantor reports 100% trust income on Form 1040 + Schedule E) + Section 642/664 charitable remainder (donor retains interest + charity remainder + Form 5227 split-interest + Form 1041-A charitable trust) + Section 678 beneficiary treated as owner + Section 679 foreign grantor with US beneficiary + ITR + Schedule FA + Schedule FSI + Schedule TR + Schedule EI reporting. NO DTAA relief per Section 90(4A) exclusion; CBDT Notification 4/2015 + 5/2015 + 6/2015 + 8/2015 reporting.
Step 7 — Section 90(4) DTAA 8-year retention + Section 90(5) limitation of benefits + Form 67 + TRC + Estate Tax Treaty + Gift Tax Treaty + Article 11 interest + Article 10 dividend + Article 6 immovable property income + Article 13 capital gains + saving clause + MAV main purpose + Form 8833 treaty disclosure + Section 6114 + 25% treaty penalty + Section 7701(b) treaty tie-breaker
Senior 60+ parent NRI / OCI / US person must retain TRC + Form 67 + DTAA Article 11 interest 10-15% + Article 10 dividend 15-25% + Article 6 immovable property income + Article 13 capital gains (India has full taxing right on immovable property SIT + business trust + REIT/InvIT if property located in India) + saving clause + MAV main purpose test + Form 8833 treaty disclosure + Section 6114 treaty-based return position + 25% treaty penalty for non-disclosure + Section 7701(b) treaty tie-breaker. Section 90(4) 8-year retention from end of AY per CBDT Circular 3/2022 + Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules. Section 90(5) limitation of benefits — AO may deny treaty benefit if panchnama finds treaty shopping + non-genuine resident + non-substantive economic activity. Form 67 mandatory for any DTAA relief at ITR filing; TRC from foreign tax authority within 30 days of AY end.
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Section 115UA + Section 194LBA + 194LBB + 194LBC + 194LC + 194LD + 194DA + 194N + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Section 56(2)(vii)/(xi) + Section 49(1)/(2) + Section 50C + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 grantor trust + Section 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent REIT + InvIT + business trust India 2026 7-step flow chart
Senior 60+ parent REIT/InvIT distribution waterfall — Section 115UA + 194LBA + 194LBB + 194LBC + 194LC + 194LD + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 grantor trust + Section 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding + senior 60+ parent estate India 2026
5-phase timeline Section 115UA + 194LBA + 194LBB + 194LBC + 194LC + 194LD + 194DA + 194N + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Section 56(2)(vii)/(xi) + Section 49(1)/(2) + Section 50C + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 + 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent REIT + InvIT + business trust India 2026
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Document checklist — NRI parent senior 60+ REIT + InvIT + business trust + Section 115UA + Section 194LBA + Section 194LBB + Section 194LBC + Section 194LC + Section 194LD + Section 194DA + Section 194N + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Section 56(2)(vii)/(xi) + Section 49(1)/(2) + Section 50C + Section 55(2) FMV 2001 + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 grantor trust + Section 642/664 + FEMA NRO + 7y + 10y retention + FEMA compounding + senior 60+ parent estate India 2026
- Indian Succession Act 1925 + Section 63 Will + codicil + executor + probate + Letters of Administration + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed + SEBI REIT/InvIT Regulations 2014 transfer formalities
- Section 115UA business trust pass-through + Section 194LBA 5%/10%/30% TDS unit-holder + Section 194LBB SPV + Section 194LBC securitisation + Section 194LC bond + Section 194LD listed infrastructure debt + Section 194DA life insurance + Section 194N cash withdrawal
- Section 90(4) DTAA 8-year retention + Section 90(5) limitation of benefits + Form 67 + TRC + Estate Tax Treaty + Gift Tax Treaty + Article 11 interest + Article 10 dividend + Article 6 immovable property income + Article 13 capital gains + saving clause + MAV main purpose test + Form 8833 treaty disclosure + Section 6114 + 25% treaty penalty + Section 7701(b) treaty tie-breaker
- FEMA USD 1M / year LRS + FEMA NRO demat account + AD-1 + Form A2 + CA certificate Form 15CB + Section 195 + 7-year NRO retention + 10-year US/UK/CA/AU retention + FEMA ED RBI Master Direction 2024 + FEMA compounding penalty up to 3x per FEMA 1999 Section 13
- Section 56(2)(vii) heir exempt (immovable property scope — REIT/InvIT debate per CBDT Circular 6/2016 + 24/2016) + Section 56(2)(xi) deemed gift > INR 50,000 NOT applicable for family heir + Section 49(1) + 49(2) + 49(2AA) + 49(2B) + 49(2C) + 49(2)(iii) cost of acquisition
- Section 50C stamp duty valuation (NOT applicable to REIT/InvIT — securities / financial assets) + Section 50CA FMV (NOT applicable to REIT/InvIT) + Section 55(2) + 55(2A) + 55(2B) + 55(2)(iii) FMV 2001 + Section 47(vii) family arrangement + Section 50B slump sale + Section 45 + 48 + 111A + 112 + 112A + STT + Indexation
- Black Money Act 2015 + 30% tax + 30% penalty Section 10/11 BMA + Form 3520 + Form 3520-A + Section 6048 reporting + Section 6662 20-40% accuracy penalty + Section 6663 75% fraud penalty + Section 6677 USD 10,000 foreign trust penalty
- Section 10(20) registered valuer exempt + Section 10(21) approved institution exempt + Section 10(23BB) infrastructure debt fund exempt + Section 23(5AA/5ABA) pension + Section 10(23C) charitable trust + Section 10(38) LTCG pre-2018 grandfathering
- Section 671-679 grantor trust classification (REIT/InvIT held by foreign grantor trust for US person — grantor reports 100% trust income) + Section 642/664 charitable remainder (Form 5227 split-interest + Form 1041-A charitable trust) + Section 678 beneficiary treated as owner + Section 679 foreign grantor with US beneficiary
- Section 54 + 54F + 54B + 54EC + 54GB + 54GA rollover + Section 111A + 112 + 112A + STT + Indexation + Schedule CG + Schedule 112A + Schedule FA + Schedule EI + Schedule FSI + Schedule TR + Section 194R benefit/perquisite + Section 194S virtual digital asset + Section 193 interest + Section 194 dividend + Section 194-I rent + Section 194-IB TDS rent + Section 194Q buyer's TDS
- TCS Section 206C(1G) 7.5% above INR 50 lakh (remittance for education + medical) + 5% above INR 7 lakh (remittance without PAN/Aadhaar) + 5% on INR 50 lakh-1 crore (LRS) + TCS Section 206CCA 20% above INR 10 lakh (overseas tour package) + TCS Section 206CC + 7.5% / 20% / 5% slabs
- Form 16A TDS certificate + Form 26AS tax credit + AIS Annual Information Statement + TIS Taxpayer Information Summary + Form 197 lower-rate certificate + Form 13 + Form 15G + Form 15H senior 80+ + Form 60 + Form 61 + Form 49A + Form 49AA + Form W-7 ITIN + Form W-8BEN-E + Form 8833 treaty disclosure + Form 8843 + Form 1116 FTC + Form 1040 NR + Schedule D + Schedule E + Schedule B + Schedule 1 + Form 1040-V + Form 8938 FATCA + FBAR FinCEN 114 + Form 8621 PFIC (QEF election per IRC Section 1295) + Form 5471 CFC + Form 3520 + Form 3520-A + Form 8854 expatriation + Form 6012 + 6013 + 7701(b) substantial presence + 7701(a)(30/31) + Section 911 FEIE
- Aadhaar + PAN + OCI propagation + OCI card + Form 49A + Form 49AA + Form 60 + Form 61 + Form W-7 ITIN + W-8BEN-E + Aadhaar-PAN linkage Section 139AA + Form 139A + Section 272B penalty + Section 234A + 234B + 234C + 234F + 234G + 234H + Section 115BBDA + Section 140A + 143(1) + 143(3) + 144 + 147 + 148 + 148A + 153 + 153A + 153B + 153C + 154 + 155 + 156 + 157 + 158 + 159 + 160 + 161 + 161A + 162 + 163 + 164 + 165 + 166 + 167 + 168 + 169 + 170 + 171 + 172 + 173 + 174 + 175 + 176 + 177 + 178 + 179 + 180 + 181 + 182 + 183 + 184 + 185 + 186 + 187 + 188 + 189 + 190
- Section 194R benefit/perquisite TDS + Section 194S virtual digital asset TDS + Section 193 interest TDS + Section 194 dividend TDS + Section 194-I rent TDS + Section 194-IB TDS rent + Section 194Q buyer's TDS + Section 194LBA 5% TDS unit-holder + Section 194LBB 5% TDS SPV + Section 194LBC 25% TDS securitisation + Section 194LC 5% TDS bond + Section 194LD 5% TDS listed infra debt + Section 194DA 1% TDS life insurance + Section 194N 2% TDS cash withdrawal + Section 194 10% TDS + Section 195 non-resident TDS + Section 195 r.w.s. 197 certificate + Form 13 + Form 15CB + Form 15G + Form 15H senior 80+ + Form 16A + Form 26AS + AIS + TIS + Section 197 lower-rate certificate
Senior 60+ parent estate NRI / OCI community thread — REIT + InvIT + business trust + Section 115UA + Section 194LBA + Section 194LBB + Section 194LBC + Section 194LC + Section 194LD + Section 194DA + Section 194N + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Section 56(2)(vii)/(xi) + Section 49(1)/(2) + Section 50C + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 grantor trust + Section 642/664 + FEMA NRO + 7y + 10y retention + FEMA compounding + senior 60+ parent estate India 2026
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"Senior 60+ parent estate NRI / OCI community thread on REIT + InvIT + business trust + Section 115UA + Section 194LBA + Section 194LBB + Section 194LBC + Section 194LC + Section 194LD + Section 194DA + Section 194N + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Section 56(2)(vii)/(xi) + Section 49(1)/(2) + Section 50C + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) + Section 671-679 grantor trust + Section 642/664 + FEMA NRO + 7y + 10y retention + FEMA compounding"
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Q1 — Senior 60+ parent NRI / OCI inheriting REIT / InvIT / business trust units from Indian-domiciled parent — does Section 56(2)(vii) heir exemption apply to REIT/InvIT, and what is the Section 49(1)/(2)/(2AA)/(2B)/(2C) cost of acquisition + Section 50C + Section 55(2)(iii) FMV 2001 + Section 47(vii) family arrangement + Section 50B slump sale treatment under Indian Succession Act 1925 + Hindu Succession Act 1956 Section 6 + Indian Trust Act 1882 Section 3+5+6 + SEBI REIT/InvIT Regulations 2014?
Senior 60+ parent NRI / OCI inheriting REIT / InvIT / business trust units follows Indian Succession Act 1925 Section 63 + Will + codicil + executor + probate + Letters of Administration + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed succession clause + SEBI REIT/InvIT Regulations 2014 transfer formalities. Section 56(2)(vii) exempts heir receiving immovable property from deemed gift — but CBDT Circular 6/2016 + 24/2016 narrow reading limits Section 56(2)(vii) to immovable property only; REIT/InvIT classified as securities / financial assets per Income Tax Act 1961 Section 2(14) + SEBI REIT/InvIT Regulations 2014 — consult CA + tax counsel for clarity. Cost of acquisition = cost to previous owner per Section 49(1) + 49(2) + 49(2AA) + 49(2B) + 49(2C) + 49(2)(iii); holding period includes previous owner's holding period. Section 55(2)(iii) FMV 2001 used if cost to previous owner not ascertainable. Section 50C stamp duty valuation + Section 50CA FMV + Section 47(vii) family arrangement + Section 50B slump sale — NOT applicable to REIT/InvIT (not immovable property). Section 115UA business trust pass-through + Section 194LBA 5%/10%/30% TDS + Section 194LBB SPV + Section 194LBC securitisation + Section 195 + Form 15CB + CA certificate + AD-1 + Form A2 + FEMA USD 1M / year LRS + 7-year NRO retention + 10-year US/UK/CA/AU retention + FEMA ED RBI Master Direction 2024 + FEMA compounding penalty up to 3x per FEMA 1999 Section 13 + Section 90(4) DTAA + Section 90(5) limitation of benefits + TRC + Form 67 + 8-year retention + Estate Tax Treaty + Gift Tax Treaty + Article 11 interest 10-15% + Article 10 dividend 15-25% + Article 6 immovable property income + Article 13 capital gains + saving clause + MAV main purpose test + Form 8833 treaty disclosure + Section 6114 + 25% treaty penalty + Section 7701(b) treaty tie-breaker + Black Money Act 2015 + 30% tax + 30% penalty Section 10/11 BMA + Form 3520 + Form 3520-A + Section 6048 reporting + Section 6662 20-40% accuracy penalty + Section 6663 75% fraud penalty + Section 6677 USD 10,000 foreign trust penalty + Section 10(20/21/23BB) registered valuer exempt + Section 23(5AA/5ABA) pension + Section 10(23C) charitable + Section 10(38) LTCG pre-2018 grandfathering + Section 671-679 grantor trust + Section 642/664 charitable remainder + Form 5227 split-interest + Form 1041-A charitable trust + Section 678 beneficiary treated as owner + Section 679 foreign grantor with US beneficiary + Aadhaar + PAN + OCI propagation + Form 60 + Form 61 + Form 49A + Form 49AA + Form W-7 ITIN + W-8BEN-E + Aadhaar-PAN linkage Section 139AA.
Q2 — Senior 60+ parent NRI / OCI selling inherited REIT / InvIT / business trust units in India — how is Section 194LBA / 194LBB / 194LBC / 194LC / 194LD / 194DA / 194N / 195 TDS computed, what is the Section 45 + 48 + 50C + 50CA + 111A + 112 + 112A + STT + Indexation + 54 + 54F + 54B + 54EC + 54GB + 10(23C) + 10(38) + 10(20/21/23BB) + 115UA + 55(2) FMV 2001 + 49(1)/(2) cost of acquisition + 47(vii) family arrangement + 50B slump sale + Schedule CG + Schedule 112A + Schedule FA + Schedule EI + Schedule FSI + Schedule TR + ITR-2 + ITR-3 filing path?
Senior 60+ parent NRI / OCI selling inherited REIT / InvIT / business trust units follows Section 45 + 48 + 50C stamp duty valuation (NOT applicable to REIT/InvIT — securities / financial assets) + 50CA FMV (NOT applicable to REIT/InvIT) + 111A short-term 15% + 4% cess (if STT-paid + listed + holding ≤ 12 months) + 112 long-term 10% + 4% cess (listed + holding > 12 months) + 112A long-term 10% + 4% cess above INR 1 lakh (Section 112A grandfathered pre-2018 acquisitions) + STT Securities Transaction Tax + Indexation Section 48(ii) + 54 + 54F + 54B + 54EC + 54GB + 10(23C) + 10(38) + 10(20/21/23BB) registered valuer exempt + 23(5AA/5ABA) pension + 115UA business trust pass-through + 55(2) FMV 2001 + 49(1)/(2)/(2AA)/(2B)/(2C) + 49(2)(iii) cost of acquisition + 47(vii) family arrangement + 50B slump sale (NOT applicable to REIT/InvIT) + Schedule CG + Schedule 112A + Schedule FA + Schedule EI + Schedule FSI + Schedule TR + ITR-2 (no business income) / ITR-3 (business income) filing. TDS — Section 194LBA 5% on interest-component + 10% on dividend-component + 30% (or DTAA) on rental / capital pass-through above INR 2.5 lakh per year to non-resident unit-holder; Section 194LBB 5% on SPV distribution; Section 194LBC 25% on securitisation trust distribution; Section 194LC 5% on rupee-denominated bond interest; Section 194LD 5% on listed infrastructure debt interest; Section 194DA 1% on life insurance payout; Section 194N 2% on cash withdrawal exceeding INR 1 crore (INR 20 lakh for senior 60+ not filing ITR per Section 194N(3) + CBDT Notification 18/2019 + 30/2019). Section 197 lower-rate certificate + Form 13 + Form 15G + Form 15H senior 80+ applicable. Section 195 + Form 15CB + CA certificate mandatory for remittance > USD 5000 net after tax; AD-1 + Form A2 + FEMA NRO demat + 7-year retention + 10-year US/UK/CA/AU retention + USD 1M / year LRS + FEMA ED RBI Master Direction 2024 + FEMA compounding penalty up to 3x per FEMA 1999 Section 13. Section 90(4) DTAA + Section 90(5) limitation of benefits + TRC + Form 67 + 8-year retention + Estate Tax Treaty + Gift Tax Treaty + Article 11 interest 10-15% + Article 10 dividend 15-25% + Article 6 immovable property income + Article 13 capital gains + saving clause + MAV main purpose test + Form 8833 treaty disclosure + Section 6114 + 25% treaty penalty + Section 7701(b) treaty tie-breaker. Form 16A TDS certificate + Form 26AS tax credit + AIS Annual Information Statement + TIS Taxpayer Information Summary.
Q3 — Senior 60+ parent NRI / OCI inheriting REIT / InvIT from US-domiciled parent (or US person holding REIT/InvIT through foreign grantor trust) — how does Black Money Act 2015 + Form 3520 + Form 3520-A + Section 6048 + Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty + Section 671-679 grantor trust + Section 642/664 charitable remainder + Form 8938 FATCA + FBAR FinCEN 114 + Form 8621 PFIC + Form 5471 CFC reporting work, and what are the FEMA NRO + 7y + 10y retention + USD 1M / year LRS + FEMA compounding penalty implications?
Senior 60+ parent NRI / OCI inheriting REIT / InvIT from US-domiciled parent (or US person holding REIT/InvIT through foreign grantor trust) must report foreign REIT/InvIT holdings in Black Money Act 2015 + Form 3520 + Form 3520-A (if foreign grantor trust involved) + Section 6048 reporting obligation + Section 6662 20-40% accuracy penalty + Section 6663 75% fraud penalty + Section 6677 USD 10,000 foreign trust penalty + Section 671-679 grantor trust (REIT/InvIT held by foreign grantor trust for US person: grantor reports 100% trust income on Form 1040 + Schedule E) + Section 642/664 charitable remainder (donor retains interest + charity remainder + Form 5227 split-interest + Form 1041-A charitable trust) + Section 678 beneficiary treated as owner + Section 679 foreign grantor with US beneficiary + Form 8938 FATCA (specified foreign financial assets > USD 50K end-of-year single / USD 75K MFJ / USD 100K end-of-year MFJ / USD 150K any-time) + FBAR FinCEN 114 (aggregate foreign bank + securities + mutual fund accounts > USD 10K at any point in calendar year) + Form 8621 PFIC default (QEF election per IRC Section 1295 to avoid Section 1291(a)(2) 125% tax + Section 1291 PTEP) + Form 5471 CFC (if foreign REIT/InvIT classified CFC > 50% — Singapore REIT / Dubai REIT / Mauritius REIT) + ITR + Schedule FA + Schedule FSI + Schedule TR + Schedule EI reporting. NO DTAA relief per Section 90(4A) exclusion; CBDT Notification 4/2015 + 5/2015 + 6/2015 + 8/2015 reporting. FEMA NRO demat + 7-year retention + 10-year US/UK/Canada/Australia retention + USD 1M / year LRS + AD-1 + Form A2 + CA certificate Form 15CB + FEMA ED RBI Master Direction 2024 + FEMA compounding penalty up to 3x per FEMA 1999 Section 13.
Q4 — Senior 60+ parent NRI / OCI creating / inheriting REIT / InvIT units through Section 47(vii) family arrangement + Section 50B slump sale + Section 49(1) + 49(2) + 49(2AA) + 49(2B) + 49(2C) + Section 55(2) FMV 2001 — what is the Indian Succession Act 1925 + Will + executor + codicil + probate + Letters of Administration + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed + FEMA NRO + 7y + 10y retention + FEMA compounding + FEMA USD 1M / year LRS + Section 90(4) DTAA + TRC + Form 67 + 8-year retention + Section 50C stamp duty + Black Money Act 2015 + Form 3520 + Section 10(20/21/23BB) registered valuer exempt + Section 671-679 grantor trust + Section 642/664 charitable remainder + Section 56(2)(vii) heir exempt + Section 56(2)(xi) deemed gift + Section 49(1)/(2) cost of acquisition + Section 115UA business trust pass-through + Section 194LBA + Section 194LBB + Section 194LBC + Section 194LC + Section 194LD + Section 194DA + Section 194N + FEMA USD 1M / year + FEMA compounding + senior 60+ parent estate India 2026 treatment?
Senior 60+ parent NRI / OCI creating / inheriting REIT / InvIT units through Section 47(vii) family arrangement (transfer among family members for partition / estate equalisation — REIT/InvIT NOT covered per CBDT Circular 6/2016 + 24/2016 narrow reading; consult CA) + Section 50B slump sale (one undertaking transferred to another for lump-sum consideration — NOT applicable to REIT/InvIT) + Section 49(1) + 49(2) + 49(2AA) + 49(2B) + 49(2C) + 49(2)(iii) + Section 55(2) FMV 2001. Indian Succession Act 1925 Section 63 + Will + codicil + executor + probate + Letters of Administration + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed succession clause + SEBI REIT/InvIT Regulations 2014 transfer formalities. FEMA NRO demat + 7-year retention + 10-year US/UK/Canada/Australia retention + USD 1M / year LRS + AD-1 + Form A2 + CA certificate Form 15CB + FEMA ED RBI Master Direction 2024 + FEMA compounding penalty up to 3x per FEMA 1999 Section 13. Section 90(4) DTAA + Section 90(5) limitation of benefits + TRC + Form 67 + 8-year retention + Estate Tax Treaty + Gift Tax Treaty + Article 11 interest 10-15% + Article 10 dividend 15-25% + Article 6 immovable property income + Article 13 capital gains + saving clause + MAV main purpose test + Form 8833 treaty disclosure + Section 6114 + 25% treaty penalty + Section 7701(b) treaty tie-breaker. Section 50C stamp duty (NOT applicable to REIT/InvIT) + Black Money Act 2015 + 30% tax + 30% penalty Section 10/11 BMA + Form 3520 + Form 3520-A + Section 6048 reporting + Section 6662 20-40% + Section 6663 75% + Section 6677 USD 10,000. Section 10(20/21/23BB) registered valuer exempt + Section 23(5AA/5ABA) pension + Section 10(23C) charitable + Section 10(38) LTCG pre-2018 grandfathering. Section 671-679 grantor trust + Section 642/664 charitable remainder + Form 5227 split-interest + Form 1041-A charitable trust + Section 678 + Section 679. Section 56(2)(vii) heir exempt (immovable property scope debated) + Section 56(2)(xi) deemed gift > INR 50,000 NOT applicable for family heir. Section 115UA business trust pass-through + Section 194LBA 5%/10%/30% TDS + Section 194LBB 5% SPV + Section 194LBC 25% securitisation + Section 194LC 5% bond + Section 194LD 5% listed infra + Section 194DA 1% life insurance + Section 194N 2% cash + Section 195 + Form 15CB + AD-1 + FEMA NRO + 7y + 10y retention.
Q5 — Senior 60+ parent NRI / OCI donating REIT / InvIT units to charity / Section 11 / 12 / 12A / 80G / Form 10A / 10AB / 10BD / 10BE / Section 10(23C) / Section 10(38) LTCG pre-2018 / Section 642/664 / Section 671-679 — what is the Indian Trust Act 1882 Section 3+5+6 + FEMA + FEMA FC-1 + FC-3 + Form FC-GPR + Section 195 + Section 90(4) DTAA + TRC + Form 67 + 8-year retention + Section 50C stamp duty + Black Money Act 2015 + Form 3520 + Section 56(2)(xi) deemed gift + Section 56(2)(vii) heir exempt + Section 49(1)/(2) cost of acquisition + Section 115UA business trust pass-through + Section 194LBA + Section 194LBB + Section 194LBC + FEMA NRO + 7y + 10y retention + FEMA compounding + FEMA USD 1M / year + senior 60+ parent estate India 2026 treatment?
Senior 60+ parent NRI / OCI donating REIT / InvIT units to charity / Section 11 + 12 (charitable + religious trust registration) + 12A (registration) + 80G + Form 10A (application for registration) + 10AB (intimation for provisional registration) + 10BD (statement of donation) + 10BE (acknowledgment of donation) + Section 10(23C) (specified charitable institution) + Section 10(38) LTCG pre-2018 grandfathering + Section 642/664 charitable remainder + Form 5227 split-interest + Form 1041-A charitable trust + Section 671-679 grantor trust + Indian Trust Act 1882 Section 3+5+6 trust deed. FEMA — charitable donation by NRI subject to 50% limit of donation value (Section 80G) + FEMA FC-1 (prior RBI approval for foreign trust creation) + FC-3 (annual return) + Form FC-GPR (issue of capital instruments) + Section 195 + Form 15CB + CA certificate + AD-1 + FEMA USD 1M / year LRS + FEMA compounding penalty up to 3x per FEMA 1999 Section 13 + FEMA ED RBI Master Direction 2024. Section 90(4) DTAA + Section 90(5) limitation of benefits + TRC + Form 67 + 8-year retention + Estate Tax Treaty + Gift Tax Treaty + Article 11 interest 10-15% + Article 10 dividend 15-25% + Article 6 immovable property income + Article 13 capital gains + saving clause + MAV main purpose test + Form 8833 treaty disclosure + Section 6114 + 25% treaty penalty + Section 7701(b) treaty tie-breaker. Section 50C stamp duty (NOT applicable to REIT/InvIT) + Black Money Act 2015 + 30% tax + 30% penalty Section 10/11 BMA + Form 3520 + Form 3520-A + Section 6048 reporting + Section 6662 20-40% + Section 6663 75% + Section 6677 USD 10,000. Section 56(2)(xi) deemed gift > INR 50,000 (charity exempt per Section 11 + 12 + 80G + 10(23C)) + Section 56(2)(vii) heir exempt (NOT applicable to charity — only family heir) + Section 49(1)/(2)/(2AA)/(2B)/(2C) + 49(2)(iii) cost of acquisition. Section 115UA business trust pass-through + Section 194LBA 5%/10%/30% TDS + Section 194LBB 5% SPV + Section 194LBC 25% securitisation + Section 195 + Form 15CB + AD-1 + FEMA NRO + 7y + 10y retention.
Q6 — Senior 60+ parent NRI / OCI inheriting REIT / InvIT from foreign-domiciled parent / foreign trust / foreign grantor trust — what is the comprehensive Section 45 + 47(vii) + 48 + 49(1) + 49(2) + 49(2AA) + 49(2B) + 49(2C) + 50C + 50CA + 55(2) + 55(2A) + 55(2B) + 55(2)(iii) FMV 2001 + 56(2)(vii) heir exempt + 56(2)(xi) deemed gift + 90(4) DTAA + 90(5) limitation of benefits + 115UA business trust pass-through + 194LBA + 194LBB + 194LBC + 194LC + 194LD + 194DA + 194N + FEMA USD 1M / year + FEMA NRO + 7y + 10y retention + FEMA compounding penalty up to 3x + Black Money Act 2015 + Form 3520 + Form 3520-A + Form 8938 FATCA + FBAR FinCEN 114 + Form 8621 PFIC + Form 5471 CFC + Form 6012 + 6013 + 7701(b) substantial presence + 7701(a)(30/31) + Section 911 FEIE + Section 6114 + 25% treaty penalty + Section 671-679 grantor trust + Section 642/664 charitable remainder + Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty + Indian Succession Act 1925 + Will + executor + codicil + probate + Letters of Administration + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed + SEBI REIT/InvIT Regulations 2014 transfer formalities + FEMA ED RBI Master Direction 2024 + Estate Tax Treaty + Gift Tax Treaty + Article 11 interest + Article 10 dividend + Article 6 immovable property income + Article 13 capital gains + saving clause + MAV main purpose test + Form 8833 treaty disclosure + Aadhaar + PAN + OCI propagation + Section 139AA + Form 49A + Form 49AA + Form W-7 ITIN + W-8BEN-E + Section 10(20/21/23BB) registered valuer exempt + Section 10(23C) charitable + Section 10(38) LTCG pre-2018 grandfathering + senior 60+ parent estate India 2026 checklist?
Senior 60+ parent NRI / OCI inheriting REIT / InvIT from foreign-domiciled parent / foreign trust / foreign grantor trust must follow the comprehensive checklist: Indian Succession Act 1925 Section 63 + Will + codicil + executor + probate + Letters of Administration + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed succession clause + SEBI REIT/InvIT Regulations 2014 transfer formalities; Section 45 + 47(vii) family arrangement + 48 + 49(1) + 49(2) + 49(2AA) + 49(2B) + 49(2C) + 49(2)(iii) + 50C stamp duty (NOT applicable to REIT/InvIT) + 50CA FMV (NOT applicable) + 55(2) + 55(2A) + 55(2B) + 55(2)(iii) FMV 2001 + 56(2)(vii) heir exempt (immovable property scope debated per CBDT Circular 6/2016 + 24/2016) + 56(2)(xi) deemed gift > INR 50,000 NOT applicable for family heir + 90(4) DTAA 8-year retention + 90(5) limitation of benefits + TRC + Form 67 + Estate Tax Treaty + Gift Tax Treaty + Article 11 interest 10-15% + Article 10 dividend 15-25% + Article 6 immovable property income + Article 13 capital gains + saving clause + MAV main purpose test + Form 8833 treaty disclosure + Section 6114 + 25% treaty penalty + Section 7701(b) treaty tie-breaker + 115UA business trust pass-through + 194LBA 5%/10%/30% TDS unit-holder + 194LBB 5% SPV + 194LBC 25% securitisation + 194LC 5% bond + 194LD 5% listed infra + 194DA 1% life insurance + 194N 2% cash withdrawal + 195 + Form 15CB + AD-1 + FEMA USD 1M / year LRS + FEMA NRO + 7y + 10y retention + FEMA compounding penalty up to 3x per FEMA 1999 Section 13 + FEMA ED RBI Master Direction 2024; Black Money Act 2015 + 30% tax + 30% penalty Section 10/11 BMA + Form 3520 + Form 3520-A + Section 6048 reporting + Form 8938 FATCA + FBAR FinCEN 114 + Form 8621 PFIC (QEF election per IRC Section 1295) + Form 5471 CFC + Form 6012 + 6013 + 7701(b) substantial presence + 7701(a)(30/31) + Section 911 FEIE + Section 671-679 grantor trust + Section 642/664 charitable remainder + Section 678 + Section 679 + Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000; Aadhaar + PAN + OCI propagation + Section 139AA + Form 49A + Form 49AA + Form W-7 ITIN + W-8BEN-E + Section 10(20) registered valuer + 10(21) approved institution + 10(23BB) infrastructure debt fund + 23(5AA/5ABA) pension + 10(23C) charitable + 10(38) LTCG pre-2018 grandfathering + ITR-2 / ITR-3 + Schedule CG + Schedule 112A + Schedule FA + Schedule EI + Schedule FSI + Schedule TR + Form 1040 NR + Schedule D + Schedule E + Schedule B + Schedule 1 + Form 1040-V + Form 8843 + Form 1116 FTC + Form 49A + Form 49AA + Form 60 + Form 61 + Form 16A + Form 26AS + AIS + TIS + Form 13 + Form 15G + Form 15H senior 80+ + Section 197 lower-rate certificate.
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