Budget 2021: Dinesh Kanabar welcomes timeline reduction for re-opening of tax returns to 3 yrs

“On real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) - the very good part there is, there is no withholding taxes on dividend on REIT and InvIT. This was a big pain point because it resulted in a tax leakage,” he added.

He also welcomed steps like timeline for re-opening of tax returns reduced to 3 yrs from 6 yrs

“On the reopening of tax matters, you ask any foreign investors, you go back and say but I got a tax order, is it of any consequences because up to 6 years it can be reopened, now that has been curtailed to 3 years - very important.”