Tax changes to help Reit sector in India
Budget boost may spur US$20b of property development
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Mumbai
INDIA announced tax code changes to help developers set up real estate investment trusts, measures that may help spur US$20 billion of property development.
Reits "have an important role to revive construction activity", Finance Minister Arun Jaitley told parliament on Saturday in New Delhi as he presented the federal budget for the year starting April 1. Mr Jaitley proposed to "rationalise the capital gains regime" while listing the trusts and also offered tax incentives on their rental income.
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