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Indian Realty sector claims for tax reductions

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Indian economy is highly reliable on the realty sector which of course stands next to the agriculture in providing employment. As per the source saying @ the www.propertykhazana.com the realty industry is on high hopes at the central government which is about to present the budget for the current financial year. The realty sector is hoping to get the demands and purposes served like flexible IT structure, cutback in service tax and clearing up the FDI concerned issues.
Though this is not their open wish, but the sector is publicizing that all the demands are for the welfare of the common populace in India and once the demands are fulfilled then the builders and developers will be able to provide more affordable residential units to the needy. In fact, CREDAI has put forth the same demands before the finance ministry.
Speaking @ the www.propertykhazana.com Rajnikant Ajmera, president, CREDAI, said “We demand the central government to consider diverse sections like 80-IB (10) of the Income Tax Act. Correspondingly, different concession given in the Income Tax Act for make possible reasonably priced housing and real estate requires to be scrutinized. The state and the central governments are required to facilitate the industry on urgency, he added.
Further, he also revealed his opinion at the www.propertykhazana.com explaining the importance of the FDI into the sector and he also asked for the simplification of the norms and to lower the foray of the FDI less than 50,000 Sq.Mtrs. Mr. Lalit Gandhi, CMD of Lok Housing and president of Mumbai Remaking Federation speaking to the www.propertykhazana.com said that the government needs to help in raising funds for the Indian companies and make the ECB rules supple.
Source: NBTVLIVE

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