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Dividend distribution tax on REITs removed in the Budget

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The following are some of the realty-specific measures Finance Minister Arun Jaitley announced in his Budget on Monday:

–Service tax exempted for construction of houses less than 60 square metres

–Deduction for rent payers raised from Rs 20,000 to Rs 60,000

–100 per cent deduction for profits of undertakings from housing projects in cities during June ’16 – March ’19

–Dividend distribution tax on REITs removed

–Govt to set up dispute redressal body for infrastructure projects

–Homebuyers to get additional deduction of Rs 50,000 on interest for loan up to Rs 35 lakh.

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