InvITs for NRIs: Infrastructure Income, Yield, and Tax Explained

IndiGrid InvIT paid a distribution of Rs 12.50 per unit in one of its recent quarters. At a unit price near Rs 125, that is a 10% annualised yield on the face of it. An NRI looking at that number against a fixed deposit rate of 7% is right to be curious. But a distribution from an InvIT is not one number. It is three legally distinct streams of income stitched into a single payment, each taxed at a different Indian rate, each with its own TDS rule, and one of them quietly reducing the cost basis of your units without you paying a rupee today. The FD's 7% is contractual and capital-guaranteed. The InvIT's 10% needs to be unpacked before it can be compared to anything.

This guide does the unpacking. It covers what InvITs are and which ones NRIs can access, how the distribution is split and what each slice actually costs in tax, TDS mechanics for non-residents, the capital gains rules after their 2024 reform, a complete worked example of Rs 10 lakh in IndiGrid after tax, how this sits against a REIT and an NRE FD, and the handful of edge cases that decide whether the return survives repatriation.

The 30-second answer: NRIs and OCIs buy listed InvIT units (IndiGrid, Powergrid InvIT, IRB InvIT, NHAI InvIT) on NSE and BSE through an NRI demat account, funded from NRE for full repatriation or NRO for the USD 1 million per year route. Distribution yields run 8-11% but split three ways: interest (typically 70-85% of the payout) taxed at 5% with 5% TDS under Sections 115A and 194LBA, no minimum threshold for non-residents; dividend exempt or taxed at 10% depending on whether the SPV opted into Section 115BAA, with TDS at 0% or 10%; return-of-capital untaxed now but reduces your cost basis, taxable under Section 56(2)(xii) only once cumulative receipts exceed your purchase price. On sale, 12-month holding brings 12.5% long-term rate under Section 112A (first Rs 1.25 lakh exempt), confirmed for AY 2026-27 by the Finance Act 2025. Short-term gains are taxed at 20% under Section 111A. DTAA relief applies against home-country tax, and the net after-tax yield on the interest-heavy InvIT structure is typically 7.5-9% for a Gulf NRI.

This guide assumes you have an NRE account and understand the basics of the USD 1 million repatriation route. For that background, start with NRE, NRO and FCNR accounts. What follows is specific to InvITs: the assets, the structure, the tax, and the real money.

What an InvIT actually is, and what it owns

SEBI introduced the Infrastructure Investment Trust framework in 2014 and progressively tightened the rules so that listed InvITs today function much like a closed-end fund with a mandatory distribution obligation.

The trust itself owns no assets directly. It sits above one or more Special Purpose Vehicles, the operating companies that hold the actual infrastructure assets and collect revenue from them. The trust receives money from the SPVs as interest on loans it made to them and as dividends when the SPVs declare profits. It must distribute at least 90% of its net distributable cash flow every six months, though most listed InvITs pay quarterly. Units are listed on the NSE and BSE and trade like any other listed security.

The infrastructure assets in the InvITs currently accessible to NRIs divide into a few clear categories.

IndiGrid InvIT holds power transmission assets: high-voltage direct-current lines and substations, with revenue from long-term Transmission Service Agreements paid by the government-designated load-despatch centres regardless of actual power flow. The availability-payment model means IndiGrid's cash flows are largely non-cyclical; the assets earn their tariff if the lines are available, not if power actually moves through them. As of early 2026, IndiGrid has around 7,500 circuit kilometres of lines.

Powergrid InvIT is sponsored by Power Grid Corporation of India and holds government-created power transmission assets, with essentially the same revenue model as IndiGrid but with a state-owned promoter and a more conservative financial structure. It commands a slight yield discount to IndiGrid, reflecting lower perceived credit risk.

IRB InvIT holds toll road assets, concession agreements with the National Highways Authority of India, with revenue from actual vehicle traffic. Unlike the availability-payment model on power lines, toll revenue depends on traffic growth and macroeconomic activity, introducing demand risk the transmission trusts do not have. The tradeoff is a somewhat higher distribution yield to compensate.

NHAI InvIT (National Highways Infra Trust) is sponsored by the NHAI itself and holds a portfolio of national highway stretches under hybrid-annuity model agreements, where the government pays fixed annuities rather than relying purely on toll collections. The annuity model makes NHAI InvIT's cash flows more predictable than IRB's pure-toll model.

Bharat Highways InvIT is the newest of the listed infrastructure trusts as of 2026, holding a mix of operational highway assets. It is smaller and less liquid than the older trusts.

The distinction between listed and unlisted InvITs matters for NRIs. NRIs can access listed InvITs through a standard NRI demat account on the exchange. Unlisted InvITs, which include several large institutional-grade infrastructure funds, require direct private placement participation that is generally not available to retail NRIs and carries substantially different liquidity, minimum investment, and regulatory requirements. This guide is about listed InvITs only.

Minimum investment for a listed InvIT is one unit. At current prices that ranges from roughly Rs 80 to Rs 140 per unit depending on the trust, making them far more accessible than the multi-crore minimum of an unlisted InvIT or the capital requirement of buying physical infrastructure. In practice, the bid-ask spread on the smaller trusts means very small positions are inefficient, and a working position of Rs 1 lakh or more trades more cleanly.

The distribution split: where the tax is hidden

Every discussion of InvIT yield that quotes a single number without specifying the component breakdown is incomplete in a way that matters for an NRI. The same nominal yield produces very different after-tax returns depending on what proportion of the distribution is interest, what proportion is dividend, and what proportion is return-of-capital.

InvITs are more interest-heavy than REITs. Because the trust lends money to its SPVs and charges interest on those loans, the interest component typically represents 70-85% of the total distribution in most listed InvITs, sometimes more. That is the component taxed most favourably for a non-resident: 5% under Section 115A. So the structure of an InvIT distribution tends to be more tax-efficient for an NRI than it first appears, precisely because the most tax-efficient slice is the largest.

Interest is taxed at 5% for a non-resident unit holder under Section 115A, with TDS deducted at source at 5% under Section 194LBA plus surcharge and health-and-education cess. The effective deduction runs slightly above 5% once cess is added, around 5.20%. For non-residents, unlike for resident investors, there is no minimum threshold below which TDS is waived. Section 194LBA TDS on interest applies from the first rupee for an NRI, which is a point the trust's distribution notices will confirm and that most plain-English summaries miss. If your position is small, you still have TDS taken. If the TDS overshoots your actual liability after DTAA relief, you recover it by filing an Indian return.

Dividend depends on a fact specific to each of the InvIT's SPVs: whether that SPV opted into the concessional 22% corporate tax regime under Section 115BAA. If the SPV has not opted in, it pays the standard corporate tax and its dividend reaches you exempt, no Indian tax in your hands and no TDS on this slice. If the SPV has opted into 115BAA, its dividend is taxable to you at 10% with 10% TDS under Section 194LBA. The trust discloses this in its distribution intimation for every payment; you do not have to investigate the SPV's own tax return. The intimation will tell you whether the dividend component is taxable or exempt. What matters is that you read it for each distribution rather than assuming last quarter's treatment carries forward, because a change in the SPV's tax election or composition can flip the treatment.

Return-of-capital is the repayment of principal on the loans the trust made to its SPVs. You receive it as part of your distribution cheque but it is not income. Under Section 48, it reduces your cost of acquisition of the units. No tax is owed when you receive it. The tax comes later, in one of two ways. First, when you eventually sell the units, your gain is computed off a lower cost basis, so you pay more capital gains tax than you would have if the distributions had all been income. Second, if the cumulative return-of-capital you have received over the years exceeds your original purchase price, the excess is taxed immediately under Section 56(2)(xii) as income from other sources, at your slab rate if you were a resident, but for a non-resident the rate that applies to income from other sources under the Act. This crossover does not happen quickly in most cases because InvIT unit prices also change, but it is the reason meticulous tracking of cumulative return-of-capital is not optional: it is the only way to know whether you have already crossed the threshold or are approaching it.

The Finance Act 2023 introduced the Section 56(2)(xii) treatment to close a loophole where very large return-of-capital distributions were effectively passing tax-free forever. The current regime, in force from FY 2023-24, is the basis-reduction approach with the Section 56 trigger at the crossover point. It is more generous than the original proposal, which would have taxed return-of-capital immediately, and it keeps the deferral value intact for most NRIs in the first several years of a holding.

TDS: what gets deducted, when, and how to get it back

TDS on InvIT distributions for a non-resident runs under Section 194LBA. The trust is responsible for deducting it before paying you. You receive the net amount; the TDS flows to the income tax department; you receive a TDS certificate (Form 16A equivalent) that you use when filing.

The rates, to collect them in one place, are as follows. Interest component: 5% TDS plus surcharge and cess, effective approximately 5.20% for most NRIs. Dividend component: 0% TDS if exempt (SPV not in 115BAA), 10% TDS plus surcharge and cess if taxable. Return-of-capital component: no TDS, untaxed on receipt.

Surcharge rates for non-residents on income from business trusts in 2026 are determined by the total Indian income, but for most NRIs the applicable surcharge on this type of income is 10% or 15% of the basic tax before cess. For a standard holding the effective TDS on interest is close to 5.2% and on dividend is close to 10.4%. The trust will print the exact deduction on the distribution intimation and the Form 16A it issues.

TDS can overshoot your actual liability. If your DTAA provides for a lower rate, or if you have carried-forward capital losses that can set off against the gains elsewhere in your Indian return, or if the default TDS on a sale exceeds your actual gain, the excess sits with the income tax department until you file and claim a refund. For a large position or a large exit, it is worth applying for a nil or lower deduction certificate under Section 197 (Form 13) in advance rather than letting a large amount be tied up for a year. For routine distributions from a standard holding, filing and getting the refund the normal way is usually fine.

If you hold InvIT units in an NRE-linked demat account and the trust's system flags your PAN as non-resident, TDS is applied correctly. If there is any mismatch (for example, your PAN was registered as resident and you have not updated it since becoming an NRI), the TDS may be applied at incorrect rates and correcting it involves correspondence with the trust's registrar. Check your KYC status with your depository participant before the first distribution.

Worked example: Rs 10 lakh in IndiGrid InvIT

Vikram is an NRI based in Dubai. He buys 8,000 units of IndiGrid InvIT at Rs 125 per unit, investing Rs 10,00,000 in total, funded entirely from his NRE account. The holding is fully repatriable.

IndiGrid's annualised distribution in the current year is Rs 12.50 per unit, giving Vikram a gross annual distribution of Rs 1,00,000, or a pre-tax yield of exactly 10%. IndiGrid discloses the distribution split as approximately 80% interest, 15% dividend (from an SPV that has not opted into Section 115BAA, so exempt), and 5% return-of-capital.

Breaking that down on Rs 1,00,000 annual distribution:

• Interest: Rs 80,000 (80% of Rs 1,00,000)
• Dividend: Rs 15,000 (15%), exempt because SPV not in 115BAA
• Return-of-capital: Rs 5,000 (5%)

Tax and TDS on the interest component. Rs 80,000 taxed at 5% under Section 115A = Rs 4,000. TDS deducted at source at 5% under Section 194LBA = Rs 4,000, plus surcharge and cess (effective TDS approximately Rs 4,160 for Vikram's surcharge bracket). Vikram receives Rs 80,000 minus Rs 4,160 = approximately Rs 75,840 net on the interest.

Tax on the dividend component. Rs 15,000, exempt in India because the SPV has not opted into Section 115BAA. TDS: nil. Vikram receives the full Rs 15,000.

Tax on the return-of-capital. Rs 5,000, untaxed on receipt. Vikram receives the full Rs 5,000. His cost of acquisition for IndiGrid units drops from Rs 10,00,000 to Rs 9,95,000 (Rs 10,00,000 minus Rs 5,000 received as return-of-capital).

Net distribution received after Indian TDS: Rs 75,840 (interest, net of TDS) + Rs 15,000 (dividend) + Rs 5,000 (return-of-capital) = Rs 95,840. The Indian tax cost on the full Rs 1,00,000 gross distribution is Rs 4,160 (the TDS on interest only).

Effective Indian tax rate on the gross distribution: 4.16%.

After-tax distribution yield: Rs 95,840 / Rs 10,00,000 = 9.58%.

Vikram is in Dubai where there is no personal income tax, so the Indian TDS is his total tax on this income. He keeps Rs 95,840 on a Rs 10,00,000 investment, repatriable in full because the holding is NRE-funded, and the money moves to his UAE account as a standard NRE repatriation with no cap and no Form 15CA or 15CB required.

Now shift the dividend assumption. If IndiGrid's SPVs had opted into Section 115BAA, the Rs 15,000 dividend would be taxable at 10% with TDS of approximately Rs 1,560 after cess. Total Indian tax would be Rs 4,160 + Rs 1,560 = Rs 5,720, an effective rate of 5.72%, and Vikram's net receipt would drop to Rs 94,280, a yield of 9.43%. Still strong, but the SPV's tax election moves the needle by more than Rs 1,500 a year on a Rs 10 lakh position.

For a US-resident NRI in the same position, the maths change. The US taxes worldwide income, so the full Rs 1,00,000 is reportable. The Rs 15,000 exempt dividend that India did not tax is still reportable on the US return, with no offsetting foreign tax credit because India charged nothing on it. The Rs 80,000 of interest generates a foreign tax credit for the Rs 4,160 paid to India. Assuming Vikram is in the 24% US federal bracket, his gross US tax on the Rs 1,00,000 would be approximately 24% (applying a rough conversion and ignoring state tax for simplicity), with a credit only for the Rs 4,160 Indian TDS. The after-global-tax yield drops materially. For a US NRI, the InvIT's 5% interest rate is genuinely favourable but the exempt-dividend piece does not help, because the US taxes it regardless. This is the reason the InvIT yield advantage is cleanest for Gulf NRIs and narrower but still real for Western ones.

Capital gains on sale

Hold IndiGrid units for more than 12 months and any gain on sale is long-term, taxed at 12.5% without indexation under Section 112A. The first Rs 1.25 lakh of your combined Section 112A gains across all listed equity, equity mutual funds, and business trust units in the year is exempt; gains above that are taxed at 12.5%.

Hold for 12 months or less and the gain is short-term, taxed at 20% under Section 111A.

The holding period reform that matters for the long-term rate came in the Budget of July 23, 2024, which brought listed InvIT units to parity with listed equity at 12 months, down from the previous 36 months. Before July 2024, you had to hold an InvIT unit for three years to get the long-term rate. After, a year is enough.

The Finance Act 2025 then addressed a drafting gap in Section 115UA(2), which governs how income from business trusts is charged for a non-resident. The original Section 115UA(2) referenced Sections 111A and 112 but not 112A. Without an express reference, the concessional 12.5% rate under Section 112A might not have applied cleanly to InvIT units for a non-resident, leaving room for a tax officer to argue the maximum marginal rate applied instead. The Finance Act 2025 amendment expressly included Section 112A within Section 115UA(2), effective from April 1, 2026 (AY 2026-27). For transactions in AY 2026-27 onward, the 12.5% long-term rate is on firm statutory ground.

For Vikram's position, if he holds his IndiGrid units for 18 months and sells at Rs 135 per unit, his sale price is Rs 10,80,000 (8,000 x Rs 135). His cost of acquisition after one year of return-of-capital is Rs 9,95,000. Long-term gain: Rs 10,80,000 minus Rs 9,95,000 = Rs 85,000. This sits below the Rs 1.25 lakh exemption under Section 112A, so his capital gains tax is nil in this scenario (assuming no other Section 112A gains that consume the exemption). If the gain had been Rs 2,00,000, the taxable portion would be Rs 2,00,000 minus Rs 1,25,000 = Rs 75,000 at 12.5% = Rs 9,375 in capital gains tax.

Note the basis effect of return-of-capital working against him on the gain side. Had there been no return-of-capital distributions, his cost basis would be Rs 10,00,000, and the gain would have been only Rs 80,000, comfortably within the exemption. The Rs 5,000 of return-of-capital he received tax-free in year one reappears as Rs 5,000 of extra gain at 12.5% if he is above the exemption threshold. That is the time-value deferral at work: the return-of-capital was interest-free cash flow for the year he held it; the cost is realised only on sale and at the capital gains rate rather than the interest rate, which for a 5% interest rate versus 12.5% capital gains rate can still be a net benefit depending on your holding period.

On sale, TDS applies to the NRI seller on the capital gain. The mechanism, and the case for a Section 197 lower-deduction certificate on a large exit, is covered in the TDS for NRIs guide and the capital gains guide.

InvIT versus REIT versus NRE FD: an honest comparison

The three alternatives an NRI income investor typically considers for Indian-rupee income are listed InvITs, listed REITs, and an NRE fixed deposit. They are not the same risk, so the comparison needs to be explicit about what you are trading off.

Distribution yield. Listed Indian office REITs (Embassy, Mindspace, Brookfield, Nexus Select) typically yield 6-8% pre-tax at current prices. Listed InvITs yield 8-11%, with the power-transmission trusts at the lower end and the highway trusts at the higher end. NRE FDs from major banks rate around 7-7.5% in mid-2026 and are tax-free in India for NRIs.

After-tax yield for a UAE NRI. The REIT's 6-8% pre-tax, after a blended TDS (interest at 5.2%, dividend at 0% or 10.4%, return-of-capital nil) comes to roughly 5.7-7.5% net depending on component mix. The InvIT's 8-11% pre-tax, with the same mechanics but an even higher interest proportion, lands at roughly 7.5-10% net, again depending on components. The NRE FD at 7-7.5% is completely tax-free in India. On after-tax yield alone, the InvIT is competitive and often superior to the NRE FD, especially at the upper end of the InvIT yield range. But the InvIT carries distribution-cut risk, unit-price risk, and the rollover-free lockup is replaced by exchange liquidity that is real but not instantaneous on larger positions.

Asset risk. The power-transmission InvITs (IndiGrid, Powergrid InvIT) have the most contractual revenue of the group: availability payments from government entities that do not depend on energy demand. The highway trusts have traffic-volume risk. The NRE FD has no asset risk and is covered up to Rs 5 lakh per depositor per bank by DICGC insurance. The REIT's office rental cash flows sit between: they depend on commercial leasing markets but are secured by multi-year lease agreements with large tenants, and Indian office markets have been strong.

Liquidity. All three are reasonably liquid for normal holding sizes, but the FD has a defined maturity, the REIT and InvIT units trade daily on the exchange, and a large InvIT position in one of the smaller trusts (Bharat Highways, Powergrid InvIT) can be harder to exit quickly without moving the price. For a Rs 10-50 lakh position in IndiGrid or IRB InvIT, market liquidity is adequate. For a Rs 1 crore-plus position, plan the exit carefully.

Currency risk. All three are rupee-denominated. The real return in your home currency depends on the rupee-dollar (or rupee-dirham, or rupee-pound) exchange rate over your holding period. An 8% InvIT yield in rupees could be materially lower in USD terms if the rupee depreciates significantly. The NRI real returns and rupee depreciation guide covers this quantitatively.

The simple summary for a UAE NRI building a diversified India income allocation: InvITs are worth considering as a component, with weight tilted toward the contractual-cash-flow power-transmission trusts over the more cyclical highway trusts, and with clear eyes about unit-price volatility and the three-way tax split. They are not a substitute for the NRE FD's capital guarantee, but for an NRI comfortable with listed-market risk they offer a genuinely competitive after-tax yield.

Demat account, PAN, and how to actually buy

You need three things before buying an InvIT unit: a PAN, an NRI demat account with a depository participant (most major Indian banks and brokers offer this), and a linked NRE or NRO bank account. The demat account setup is covered in detail in the NRI demat account guide.

The trading account your broker opens alongside the demat account lets you place buy and sell orders on the exchange. InvIT units trade in a standard lot of one unit, so you can build a position gradually. Settlement is T+1 for listed InvITs, the same as listed equity.

One broker-specific question worth confirming before you buy: whether your broker routes InvIT unit purchases through the Portfolio Investment Scheme (PIS) sub-account or treats them as non-PIS eligible securities. Broker practice varies, and buying InvIT units through the wrong account type can create compliance complications. Ask your DP or broker explicitly whether InvIT units settle in the PIS or non-PIS demat account, get the answer in writing, and follow it. Buying Indian stocks with a PIS account has related context.

KYC currency matters too. When you become a non-resident, update your PAN status and demat KYC from resident to non-resident before trading. If TDS is deducted at resident rates (higher for some income types, lower for others) because the trust's registrar has you flagged as resident, correcting it requires engaging the registrar and potentially filing a revised return.

Edge cases and what can go wrong

You hold units bought before July 2024 at the old 36-month long-term threshold. The 12-month holding period applies to sales on or after July 23, 2024, regardless of when you bought. So units you bought in 2022 and held through July 2024 are long-term by the new 12-month test, not the old 36-month one, giving you the 12.5% rate on any gain realised after that date. This is a clean transition, not a retrospective one: the holding period requirement you must satisfy is the one in effect on the date of sale.

The dividend component flips quarter-to-quarter. If an InvIT's SPV changes its tax regime election, the dividend slice can flip from exempt to taxable or back. Do not budget a full year's tax based on one quarter's disclosure. Read each intimation.

Return-of-capital has eroded your basis below zero. Technically the crossover into taxable territory under Section 56(2)(xii) is when cumulative return-of-capital exceeds your original purchase price, not when it drives basis to zero in accounting terms, because the formula in Section 56 uses the original acquisition cost. But a holder who received substantial return-of-capital over many years needs to track the cumulative figure and compare it to the original acquisition price, not the current market value or the adjusted carrying value.

You exit a large InvIT position and face TDS on the full sale value, not just the gain. The TDS mechanism for NRI sellers applies to the capital gain, but the default deduction by the buyer or broker can sometimes latch onto the sale value rather than the net gain, especially if the gain computation involves complexity from return-of-capital basis reductions. For a large exit, file Form 13 and get the Section 197 lower-deduction certificate in advance. The TDS for NRIs guide covers the process.

You funded from NRO and want to repatriate freely. NRO-funded InvIT distributions and sale proceeds are non-repatriable except through the USD 1 million per financial year route, which requires Form 15CA and a CA's Form 15CB. There is no way to convert an NRO-sourced holding to repatriable status retroactively. Decide at the time of investment.

You are in the US, UK, or Canada. Your home country taxes your worldwide income, including the components India exempts. The exempt dividend is still reportable on your home return, with no offsetting foreign tax credit because India charged nothing. The net after-global-tax yield is lower than the India-only numbers suggest, and running the comparison properly requires applying your home-country marginal rate to the Indian income and offsetting only what India actually collected. The capital loss set-off and carry-forward guide is relevant for anyone managing global losses against Indian gains.

The closing read

An InvIT investment for an NRI is three things at once: a yield instrument with genuine 8-11% distributions, a tax structure that, for the interest-dominant slice, lands at around 5% Indian tax for a non-resident, and a listed-market security whose unit price moves independently of the distribution and of the underlying asset quality. All three matter, and conflating them is the most common error.

The case for listing the power-transmission InvITs in a diversified India income allocation is straightforward for a Gulf NRI: the after-tax yield is competitive against an NRE FD, the cash flows are contractual, and the 12.5% long-term capital gains rate (now firm from AY 2026-27 under Section 112A) makes a patient hold efficient on the back end too. The case is weaker but still present for a Western NRI once worldwide-income tax is applied. The highway InvITs offer higher nominal yields but with traffic-volume risk that the power lines do not carry; they belong in a portfolio that has already anchored to contractual cash flows and is adding yield with eyes open.

What an InvIT is not: a substitute for a REIT if you want office-property exposure, a substitute for an NRE FD if you want capital certainty, or a simple income instrument where you ignore the component split. The three-slice tax treatment is the price of admission, and the job of every quarter is to read the trust's distribution intimation, book the components correctly, and update the cumulative return-of-capital figure that will drive both your eventual Section 56 exposure and your capital gains calculation on exit.

Do that, fund from NRE, stick to the larger and more liquid trusts for meaningful position sizes, and an InvIT is a genuinely useful piece of an India income portfolio, one that can deliver 9-10% after Indian tax for a UAE NRI with no ongoing management, no tenant, and no power-of-attorney holder you are praying will not misuse their authority. On those terms it is worth understanding precisely.

Related guides

• REITs and InvITs for NRIs: full tax and structure guide
• NRI demat account setup
• Buying Indian stocks with a PIS account
• NRE, NRO and FCNR accounts
• NRO to NRE transfer
• Capital gains tax for NRIs on shares and mutual funds
• TDS for NRIs and how to claim refunds
• Capital loss set-off and carry-forward for NRIs
• NRI mutual fund TDS on redemption
• Tax-efficient investing for NRIs
• NRI real returns and rupee depreciation
• Building an India corpus as an NRI
• NRI portfolio asset allocation
• NRI debt funds vs bank FD after 2023
• Gold investment options for NRIs

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This guide is general information for Indian expats, not personal financial, tax, or legal advice. InvIT distribution yields, component splits, TDS rates under Section 194LBA, the 5% concessional interest rate under Section 115A, dividend taxability under Section 115BAA, return-of-capital treatment under Sections 48 and 56(2)(xii), the 12.5% long-term capital gains rate under Section 112A as confirmed for business trusts from AY 2026-27, the 20% short-term rate under Section 111A, and NRI repatriation limits are current as of April 2026 but change with each Budget. The list of listed InvITs, their asset portfolios, distribution amounts, and unit prices are indicative and subject to change. Verify your position with a qualified chartered accountant and your depository participant before investing, confirm TDS treatment with the trust's registrar, account for your home-country tax under the relevant DTAA, and read each trust's own distribution intimation for the exact component split each quarter.