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“Experts note that the new asset class will provide enhanced tax efficiency in comparison to Category III AIFs, as detailed in SEBI’s recent proposal.”
The new asset class suggested by the Securities and Exchange Board of India (Sebi) is expected to bring innovative investment products and strategies into the market. This change could motivate some investors to move away from existing high-risk options like portfolio management services (PMS) and alternative investment funds (AIFs).
Personal Finances
India is the fifth-largest recipient of cross-border investments in the Asia Pacific region, attracting $3 billion in funds. In the Indian real estate market, the office sector commands the highest portion of investment, accounting for 36% of the total.
A recent report reveals that India ranks fifth in cross-border real estate investments in the APAC region, capturing 9% of the total investment volume for the first half of 2024. According to Knight Frank’s ‘Asia Pacific Horizon: Look Beyond the Norms’ report, the total cross-border investments in APAC amounted to $11.5 billion during this period, with India attracting $3 billion from global private equity investors.
In Indian real estate investment, the office sector drew 36% of the total global capital, underscoring the strong attraction of commercial real estate assets. The industrial sector came next with 30% of the investment, followed by the residential sector, which received 15%, and the retail sector, which attracted 10%.
Insurance
Changes in TDS for life insurance payouts have elicited mixed responses.
The reduction in Tax Deduction at Source (TDS) for life insurance payouts has generated varied responses within the industry. Some stakeholders believe the change could boost policy sales, while others are unsure about its overall effects. The Union Budget for 2024-25 has proposed lowering the TDS from 5 percent to 2 percent on life insurance payouts, effective from October 1, 2024.
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