BUDGET HIGHLIGHTS
Five year holiday from income tax being granted to two, three or four star hotels
established in specified district having UNESCO declared "World Heritage Sites"
Five year tax holiday to hospitals located in any place outside the urban
agglomerations especially in tire II and tire III cities section 80-IB sub section (11C).
IMPACT ON THE SECTOR
Five year tax holidays will encourage construction of hotels.
No major offering to the sector, the budget stands neutral to the sector.
Announcement Budget 2008- 09
Increase in Basic Exemption Limit and Income Tax Slab Rates
Impact
These would further boost the disposable income of consumers, which would create more demand
or housing and lend a major boost to the Real Estate Sector.
Announcement budget 2008-09
Five-year holiday from income tax being granted to two, three or four star hotels
Impact
This would help real estate players like Sobha Developers who are planning to enter the Hotel Business provided they meet certain criteria.
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