Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: form 3cd :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4%
 
 
Direct Tax »
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBEC Issued 41 Notifications In A Day To Give Effect To GST Council Decisions In 22nd Meet
 CBDT seeks suggestions on framing of rules on country-by-country reporting
 Is it the end of the road for tax havens?
 Government Collects Rs 3.86 Lakh Crore as Direct Tax Till September
 TDS IS PART OF SUM PAYABLE TO PAYEE and is trading liability- interest paid for delayed deposit of TDS is allowable expenditure
 Deductions Under Section 10b Of Income Tax Act, 1961 To Export
 CBDT signs 2 more APAs with taxpayers in September
 PM Narendra Modi seeks simpler rules to raise direct tax share from '07 low
  E-filing income tax return: How individuals can upload any ITR using excel utility

Credai wants inclusive housing policy, tax reliefs in 2013-14 Union Budget
January, 25th 2013

Calling for an inclusive housing policy and special housing zone to boost small and affordable houses, developers apex body Credai has appealed to finance minister P Chidambaram to initiate widespread tax incentives for making real estate the new growth engine of the economy.

In his Budget Wish List, Credai national president Lalit Kumar Jain suggested to the finance minister to allow tax exemption for small houses of under-60 sqm of carpet area and creation of special housing zones with tax exemptions on the lines of SEZ for constructing 45 sqm houses for low income groups and 30 sq mtr houses for the economically weaker sections. The country's housing shortage is very high at 18.1 million houses and an incremental need is around another 10 million houses.

"It is high time that the government took a pragmatic and practical look at the real estate sector today and take steps that help the industry in particular and the economy in general," he said.

Jain pointed out that the introduction reliefs under sections 80IB and 80 IA of Income Tax act in 1998 had given a big boost to the entire economy as the direct tax benefits resulted in multiplication in indirect tax revenues of centre and huge gains to the states through stamp duty and other taxes. Even municipal bodies earned well through octroi, premiums and cess. Besides, the employment generation was also phenomenal. Real estate contributes as much as 5.5% of to the GDP and together with the construction industry the share goes up to 11%. Even in China, which is more known as manufacturing hub, the contribution of real estate to its GDP is as high as 30%.

"We see no reason as to why real estate cannot become the new growth engine for the Indian economy," Jain said and pointed out that the sector is highly labour and capital intensive. Over 400 industries depend on the real estate and construction and that is how we can ensure sky high growth of the GDP. He regretted that over the last nine months credit to commercial real estate has gone down by more than 13% and priority lending to housing sector by 1.29%. The total lending to CRE is a mere 4%. Jain argued that the present risk weightage of 1.25% given by the RBI resulted in choking of bank finance to real estate which in turn impacted the availability of housing stock and the prevailing market-driven high prices.

Credai, therefore, suggested scrapping of the RBI risk weightage and called for banking reforms and facilitate easy and low-cost funding for housing to encourage developers increase the supply and bring down prices.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions