Monday, February 11, 2008

'There has been a lot of uncertainty surrounding FDI in real-estate sector'

REITs may face complex rules

The wish-list of the real-estate sector for the Budget should not include tax cuts or introduction of tax incentives, says Mr Abhishek Goenka, Partner, BMR & Associates. “All that the industry should call for is a stable policy,” he adds in the course of a recent e-mail interaction with Business Line.

“The changes in the Industrial Park scheme, which now provides stringent conditions for being eligible for the tax holiday, are a clear indicator of the overall philosophy of the Government to limit or phase out tax incentives,” reminds Mr Goenka.

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