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The Hotel Association of India (HAI) welcomes the RBI Notification delinking hotels from the "high risk category" of real estate business. This is a positive development which would help make available to the hotel industry funds, on easier terms, needed for the infrastructural development of hotel accommodation.
The hotel industry hails the development as a step towards meeting the hospitality sector’s long-standing demand for grant of infrastructure status under Section 80 1A (4) of the Income Tax Act. Priya Paul President Hotel Association of India |