Government may give global funds a tax reduction
Steel

Government may give global funds a tax reduction

The Government may extend tax benefits to global private entities investing in affordable housing developments in India as part of a huge infrastructure push. Other non-resident investors, such as real estate funds, are likely to be exempted under Section 10 (23FE) of the Income Tax (I-T) Act in the Union budget for FY23, focused on affordable housing. The move is being considered in order to boost financial flow for affordable housing developments. The exemptions are only available after a three-year lock-in period.

Contact: Ministry of Steel

Website: steel.gov.in

The Government may extend tax benefits to global private entities investing in affordable housing developments in India as part of a huge infrastructure push. Other non-resident investors, such as real estate funds, are likely to be exempted under Section 10 (23FE) of the Income Tax (I-T) Act in the Union budget for FY23, focused on affordable housing. The move is being considered in order to boost financial flow for affordable housing developments. The exemptions are only available after a three-year lock-in period. Contact: Ministry of Steel Website: steel.gov.in

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