The need for taxation of real estate investment trusts, "the clearer, said HDFC chairman Deepak Parekh

Terming the Budget announced the grant through the economic status of real estate investment trusts (REITs) are a good start, HDFC chairman Deepak Parekh urged the Treasury Department to come up with further clarification before tax it is successful.

In his first Budget earlier this month, Finance Minister Arun Jaitley has said that real estate investment trusts have been successfully used in the field to obtain investment to enter, and added that he intends to provide the necessary incentives REITS will have passed the purpose of taxation.

Insiders initially welcomed the move, mainly through the investor's tax liability, but later asked to measure some clearer.

"Tax pass through status has been granted to real estate investment trusts, but still they still need some clarification from the Ministry of Finance REIT tax issues," Baal said last night the second half.

He answered from HDFC shareholders Budget, if the company's largest housing finance professional players inquiry, looking at once forming.

"REITs are a good start, but there are still two levels of taxation, therefore, necessary to clarify is still necessary," Baal increased.

Earlier, Chief Executive Officer Peter · Verwer Asia Pacific Real Estate Association (APREA) has said that the rules of the proposed approach to taxation requires urgent consideration, if the government is to announce a successful model for transforming the Indian real estate investment trusts.
SOURCE : WEB