Neetish Sarda, Founder of Smartworks “With the Pandemic having accelerated the need for flexible office spaces, and coworking market poised for growth with new entrants, expectations are for a new/ reduced TDS bracket for service payment to coworking spaces. We hope the budget would also allocate more funds towards IT infra spending as we believe technology and digitization are the way forward for commercial real estate and coworking segment in specific. There is a need for an industry status, single window clearance and reinstatement of Input Tax Credit in GST. We look forward to a stimulus to investments in commercial real estate in the upcoming union budget, thereby providing a significant fillip to the growth engine, creating jobs, and spur in demand.
Another wish in the pan is that the government should provide for allowance of capital expenditure incurred by the companies in the coworking segment.