TAX CONNECT IN MINT: GOVERNMENT AIMS TO BOOST GLOBAL FUNDS ON HOUSING PROJECTS

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Upcoming Union Budget may offer tax sops to funds for affordable housing. The Centre may extend tax sops to global private funds to invest in affordable housing projects. The budget 2021 may announce exemption under Section 10(23FE) of the Income Tax to other Categories of non-residents, including real estate funds, focusing on affordable housing.

Vivek Jalan, partner, Tax Connect Advisory Services, said Seven to eight sovereign funds have availed the benefits of the exemptions. More investments need to come in to meet the growing demand for affordable housing. The government has to get more funds and it cannot be done by only sovereign funds; therefore, private players will have to come in.

Tax Connect

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