Recently Confederation of Real Estate Developers’ Association of India, CREDAI decided that it would request the government of India for eliminating service tax on the commercial property rentals. It was revealed in a short meeting to media. The participants in this conference dealt with various issues like low cost housing projects, public-private partnership, development of infrastructure, finance, banking and yes, last but not the least taxation matters.
Credai told to media that out of all the issues responsible for the present worst market condition, taxation is the most urgent issue which has to be sorted out with immediate measures. The tax service levied on the commercial properties in India is very exorbitant and it has to be removed as soon as possible. It was also added that consumers are the end victims of the contemporary taxation policy.
If the service tax on commercial properties remain still high then the rental amount will be further increased which in turn will affect the consumers. Besides this grave issue Credai also stated that it is planning to bring up affordable housing projects through the medium of public-private partnership. Still India has miles to go ahead to provide a concrete house to live in for many poor Indians. Credai is accelerating in a faster pace to reduce the gap.
Credai told to media that out of all the issues responsible for the present worst market condition, taxation is the most urgent issue which has to be sorted out with immediate measures. The tax service levied on the commercial properties in India is very exorbitant and it has to be removed as soon as possible. It was also added that consumers are the end victims of the contemporary taxation policy.
If the service tax on commercial properties remain still high then the rental amount will be further increased which in turn will affect the consumers. Besides this grave issue Credai also stated that it is planning to bring up affordable housing projects through the medium of public-private partnership. Still India has miles to go ahead to provide a concrete house to live in for many poor Indians. Credai is accelerating in a faster pace to reduce the gap.
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