I have invested in Power grid Investment Trust and have received taxable interest, taxable dividend both taxed at 10 percent and tax exempt income.
Please guide as to how this income has to be reported while filing the returns?
Also please clarify whether this income has to be reported as Pass through income? I have observed that the rate of tax is shown as 5percent in the schedule.
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Income from investment trust
Replies (1)
InvIT income is treated as "pass-through," meaning it is taxed in your hands based on its nature. You should report interest and dividend components under "Income from Other Sources" in ITR-2, and capital gains under the "Capital Gains" schedule. Always use the specific distribution statement provided by the InvIT to accurately categorize each portion of the payment, and ensure TDS claims match your Form 26AS.
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