BCD Realty Trust is a business trust registered under SEBI (Real Estate Investment Trusts) Regulations, 2014. Details of its income for the previous…

CA Final · Direct Tax Laws and International Taxation · PYQS · November 2024
BCD Realty Trust is a business trust registered under SEBI (Real Estate Investment Trusts) Regulations, 2014. Details of its income for the previous year ended 31 March, 2024 are as follows: (i) Rental income of 5 crores from directly owned real estate assets. (ii) Short term capital gain of 3.5 crore on sale of listed shares of Rama Ltd. an Indian company in which BCD realty trust holds controlling interest through holding 60% of the shareholding of Rama Ltd. (iii) Short term capital gain of 1 crore on sale of development properties. (iv) Dividend of 4.5 crore from Rama Ltd. Miscellaneous Information: BCD Realty Trust has distributed 12 crores to its resident and non-resident unit holders in the previous year 2023-24. Based on the above facts, choose the most appropriate answer to question no. 12 to 15 below for the assessment year 2024-25:
(A) 10% under section 194I
(B) 10% under section 194LBA
(C) 30% under section 194LBA
(D) 5% under section 194LBA

Suggested Answer and Working Notes:

Correct Answer: Option (B)

10% under section 194LBA

Topics: Double Taxation Relief, Non-Resident Taxation

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