The individuals owning one house property are not given full benefit of the interest paid, which is restricted to Rs 2 lakh per annum.
Housing secretary says the scheme is expected to be notified shortly and will be effective from January 1 2017.
Union Budget proposed infrastructure status for affordable homes along with several other measures for the real estate sector.
The net benefit to all three categories over a 20-year loan tenure is roughly Rs 2.4L and the monthly instalment reduces by roughly Rs 2,200.
Finance minister Arun Jaitley has apparently been fairly restrained: deviation from the fiscal deficit target is relatively small at 0.2 percentage points.
The concerns about the real estate sector are largely done with, and after the mega booster dose from the Union Budget, things are looking rosy again.
A study on social media by Blueocean Market Intelligence suggests the Budget was perceived as ‘pro-farmer’ and created a buzz in the election-bound states.
The big story is the change in stance by the RBI from accommodative to neutral – which in simple words means we mean the rate cut cycle may be over for now.
Investors in the age bracket of 40-50 can put around 60% of their funds in equity and real estate. Those who are close to retirement can put 20-25% in equities
First is the fiscal consolidation that now sets India on course for a possible rating upgrade. This happened by lowering the fiscal deficit to 3.2% of GDP.
3% fiscal deficit target for FY19 is not overambitious as the economy will shift towards formal economy on the back of demonetisation and GST, says Thukral.
The I-T rules provide that GAAR provisions shall not be applicable to any FPI in case it chooses not to avail tax-treaty benefits, among other conditions.
In further bad news, the Australian weather department has raised the possibility of return of El Nino, which is associated with less than normal rainfall.
Maruti Suzuki may put its plan to ditch diesel in reverse gearMaruti feels it would miss out on a sizeable market share if it leaves the space but its rivals stay put.
New offerings to help keep sales stable this year: Porsche IndiaLuxury sports carmaker Porsche is banking on its new product offerings to help it maintain sales at previous year's level amid a slowdown in...
Hero MotoCorp gears up to drive in around ten BS VI models by February"Within the next 4-8 weeks, the company will launch around ten BS-VI products including its key products such as Splendor, HF Deluxe, Glamou...
A large part of the Plan expenditure incurred by the Central Government is through public sector enterprises. Click to read more »
Fringe Benefit Tax (FBT) is the taxation of perquisites provided by the employer to his employees, in addition to the cash salary or wages paid, is fringe benefit tax. Click to read more »
The Medium-term Fiscal Policy Statement is presented to Parliament under Section 3(2) of the Fiscal Responsibility and Budget Management Act, 2003. Click to read more »
The Fiscal Policy Strategy Statement is presented to Parliament under Section 3(4) of the Fiscal Responsibility and Budget Management Act, 2003. Click to read more »
The Capital Budget consists of capital receipts and capital payments. The capital receipts are loans raised by the Government from the general public. Click to read more »
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