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Why we are not giving Income tax Rebate on Property dealing?

Q: In India, people have lots of money but are not investing it openly, if they got the rebate might be they invest openly...!!! But still the Question remains- should we give the tax rebate or not..??? If we consider the example it's same like insurance company.. but why real estate different from this industry?
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As far as I know CREDAI is fighting for the industry recognition for real estate sector which was not address in the budget session this year. I hope if it was recognised as an industry real estate in India would have enjoyed lots of benefits.
abhinava.nair


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