Increase in tax exemption limit by 100,000 for interest on first home loan up to Rs. 25,00,000.
The demand for increasing the income tax exemption limit for Interest on housing loan has been growing over the last few years. …Read more
TDS @ 1% on transfer of immovable properties exceeding value of Rs. 50 lacs.
In order to curb black money in property transactions and also to bring them under tax net it is proposed to levy 1% TDS and sale of immovable properties exceeding value of Rs. 50 lacs. …Read more
Increase in service tax on luxury housing.
The rate of abetment on homes and flats above 2,000 sq. ft. carpet area or costing 1 crore or more has been reduced from 75% to 70%. …Read more
- Rs. 2000 crore for Urban Housing Fund
- Increase allocation to Rural Housing fund from Rs. 4,000 Crs. to Rs. 6,000 Crs.