Real Estate Sector Budget 2019: Govt hikes tax break on interest paid on home loans to Rs 3.5 lakh for purchase of first house
5 years, 6 months ago

Real Estate Sector Budget 2019: Govt hikes tax break on interest paid on home loans to Rs 3.5 lakh for purchase of first house

Firstpost  

Nirmala Sitharaman raised tax deduction limit to Rs 3.5 lakh on interest paid on housing loan for the purchase of first home worth up to Rs 45 lakh. New Delhi: Finance minister Nirmala Sitharaman on Friday raised tax deduction limit to Rs 3.5 lakh on interest paid on housing loan sanctioned during this fiscal for purchase of first home worth up to Rs 45 lakh, a move aimed at boosting the affordable housing segment. The finance minister said the interest paid on housing loans is currently allowed as a deduction to the extent of Rs 2 lakh. “In order to provide a further impetus, I propose to allow an additional deduction of up to Rs 1.5 lakh for interest paid on loans borrowed up to 31 March, 2020 for purchase of an affordable house valued up to Rs 45 lakh,” she added.

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History of this topic

Budget 2025: NAREDCO pitches for hike in deduction on housing loan interest payment
2 days, 21 hours ago

Budget 2025: NAREDCO pitches for hike in deduction on housing loan interest payment

Hindustan Times  

National Real Estate Development Council on Monday pressed for a hike in deduction on housing loan interest payment from ₹2 lakh to ₹5 lakh and accord infrastructure status to the housing sector in the forthcoming Budget. National Real Estate Development Council on Monday pressed for a hike in deduction on housing loan interest payment from ₹ 2 lakh to ₹ …

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden
1 month ago

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden

Live Mint  

With the Reserve Bank of India keeping its key interest rate unchanged, real estate experts and developers have stressed the need to lower the rate, citing the need to stimulate sluggish sales and ease the growing burden of borrowing costs. “At this point, a rate cut would be more beneficial for consumers," said Shishir Baijal, chairman and managing director of …

Middle class discontented, real estate sector applauds tax reforms
5 months, 2 weeks ago

Middle class discontented, real estate sector applauds tax reforms

The Hindu  

Middle-class families in the city have voiced their dissatisfaction with the updated income tax slabs in Union Budget 2024-25, presented by Union Finance Minister Nirmala Sitharaman on July 23. Mohd Abdullah, an assistant manager at a private bank, remarked, “People earning ₹3 lakh to ₹7 lakh per year are usually recent college graduates, while those earning ₹7 lakh to ₹10 …

Budget 2024: 5 Things the real estate sector looks forward to from the finance minister
5 months, 2 weeks ago

Budget 2024: 5 Things the real estate sector looks forward to from the finance minister

Hindustan Times  

Budget 2024 will be presented by Finance Minister Nirmala Sitharaman today and the real estate sector hopes that the government will focus on affordable and middle income housing in the Budget. The real estate sector hopes that the government will push for affordable and middle income housing in Budget 2024. The government should raise the deduction limit for interest payment …

Telangana Government to credit ₹1 lakh into loan accounts of farmers under Crop Loan Waiver Scheme 2024
5 months, 3 weeks ago

Telangana Government to credit ₹1 lakh into loan accounts of farmers under Crop Loan Waiver Scheme 2024

The Hindu  

As the stage is being set for the roll put of the crop loan waiver scheme, Telangana Government is making necessary arrangements to credit the amounts into loan accounts of farmers in different banks. ₹31,000 crore additional burden The total additional burden on the State exchequer on account of loan waiver up to ₹2 lakh, in Chief Minister A. Revanth …

Delhi HC Upholds Constitutional Validity Of Section 71(3A) Income Tax Act; Dismisses Petition Challenging Rs. 2 Lakh Cap On House Property Income Set-Off
7 months ago

Delhi HC Upholds Constitutional Validity Of Section 71(3A) Income Tax Act; Dismisses Petition Challenging Rs. 2 Lakh Cap On House Property Income Set-Off

Live Law  

The Delhi High Court dismissed a writ petition challenging the constitutional validity of Section 31 of the Finance Act, 2017. Since the house was constructed using borrowed capital, under Section 24 of the Income Tax Act, the interest payable on such capital was eligible for deduction from the head “Income from house property.” The income chargeable under this head was …

From income tax to housing: 5 proposals that Sitharaman made for middle class
11 months, 1 week ago

From income tax to housing: 5 proposals that Sitharaman made for middle class

Live Mint  

Budget 2024: As anticipated, the Interim Budget 2024 made no big-bang announcements, but it continued its focus on infrastructure upgrades and building connectivity across the country. Finance Minister Nirmala Sitharaman on Thursday presented her sixth consecutive budget with a speech lasting 56 minutes, her shortest ever. 1) Income tax Presenting a vote on account of an interim Budget for 2024-25, …

Interim Budget 2024: Will new income tax regime get another makeover?
11 months, 2 weeks ago

Interim Budget 2024: Will new income tax regime get another makeover?

India Today  

As Finance Minister Nirmala Sitharaman gears up to announce the Interim Budget 2024-25, the new income tax regime is in focus again. Deduction for interest on housing loans Salaried individuals with housing loans are cautious about shifting to the new tax regime due to the potential loss of home loan interest deductions. Abhishek Soni suggests that extending the deduction for …

Home loan interest subsidy scheme for urban areas in final stages: Puri
11 months, 3 weeks ago

Home loan interest subsidy scheme for urban areas in final stages: Puri

Hindustan Times  

NEW DELHI: A new home loan int`erest subsidy scheme for low and middle-income groups announced by Prime Minister Narendra Modi in his Independence Day speech last year is in the final stages of preparation, union minister of housing and urban affairs Hardeep Singh Puri said on Friday. The home loan interest subsidy scheme will replace the discontinued Credit Linked Subsidy …

Nearly 2.5 lakh homebuyers to benefit as Amitabh Kant committee recommendations get UP govt nod
1 year ago

Nearly 2.5 lakh homebuyers to benefit as Amitabh Kant committee recommendations get UP govt nod

Hindustan Times  

The Uttar Pradesh Cabinet on December 19 approved the recommendations of Amitabh Kant committee on delayed real estate projects, bringing relief to lakhs of aggrieved homebuyers who have been waiting to receive possession of their homes, some of which are stuck for more than a decade. The Uttar Pradesh Cabinet on December 19 approved the recommendations of Amitabh Kant committee …

Union Budget 2023: Deduction For Interest Rate On Home Loan Twice Not Possible Anymore
1 year, 11 months ago

Union Budget 2023: Deduction For Interest Rate On Home Loan Twice Not Possible Anymore

News 18  

Taxpayers will no longer be allowed to claim a deduction for the interest rate on a home loan twice. Under the earlier tax regime, taxpayers could claim a deduction for up to 2 lakh per annum in interest paid on a home loan under the Income Tax Act. The main difference will be that interest on a home loan claimed …

Budget 2023 Key Highlights: Are You Under New Tax Regime? Nirmala Sitharaman Has Good News for You
1 year, 11 months ago

Budget 2023 Key Highlights: Are You Under New Tax Regime? Nirmala Sitharaman Has Good News for You

News 18  

Budget 2023 Highlights: Delivering on the expectations of the aam aadmi, Finance Minister Nirmala Sitharaman today announced Income Tax relief for the salaried class with an eye on the mega 2024 elections as well as several state battles as she delivered the Union Budget 2023 speech. She also announced changes in the tax slabs under the new tax regime, which …

Budget 2023: Here’s what the real estate sector is expecting from FM Sitharaman
1 year, 11 months ago

Budget 2023: Here’s what the real estate sector is expecting from FM Sitharaman

Hindustan Times  

The Indian real estate market saw a strong comeback post pandemic with the residential sector picking up demand amidst healthy economic growth, a Mint report states. The real estate sector is looking forward to budget 2023 to drive the demand for housing through tax relief and lesser stamp duty According to Gurmit Singh Arora, national president of Indian Plumbing Association, …

Union Budget 2023-24: Why favourable policies for realty sector can assist in growth, economic sustainability
1 year, 11 months ago

Union Budget 2023-24: Why favourable policies for realty sector can assist in growth, economic sustainability

Firstpost  

In a post-pandemic arena, unlike many other sectors, the Real Estate sector has rebounded strongly. Direct Tax relief measures Simply put, the expectations of home buyers can be categorised into three main buckets – enhancement of personal tax deductions, rationalisation of capital gains tax regime, and introduction of incentives. Given the trend in rising prices in the RE sector, due …

Budget 2023: Will FM Sitharaman Make Property Purchase Easier for Homebuyers?
1 year, 11 months ago

Budget 2023: Will FM Sitharaman Make Property Purchase Easier for Homebuyers?

News 18  

The Indian housing sector did reasonably well in 2022. The budget could include increased funding for the Pradhan Mantri Awas Yojana, a government programme that provides affordable housing to the urban and rural poor. Announce tax incentives Under Section 24 of the Income-tax Act of 1961, homebuyers can currently claim an income tax deduction for the interest paid on their …

Budget 2023: Will FM Sitharaman revise the long-term pending income tax exemptions limit?
1 year, 11 months ago

Budget 2023: Will FM Sitharaman revise the long-term pending income tax exemptions limit?

India TV News  

Budget 2023: As the Union Budget 2023 would be the last full term budget to be presented before the 2024 Lok Sabha elections, there are high hopes that Finance Minister Nirmala Sitharaman will change the tax rates for Indian taxpayers. In addition, key decisions regarding the long-term capital gains tax on equity investment and measures to increase demand for the …

Real estate recommendations for the Union Budget 2023-24
1 year, 11 months ago

Real estate recommendations for the Union Budget 2023-24

The Hindu  

The limit of principal deduction on housing loans under Section 80C of the Income Tax Act 1961 stands at ₹1.5 lakh per annum. It is recommended that this be increased to at least ₹4 lakh per annum in the next Union Budget. The interest deduction limit under Section 24 of the IT Act on housing loan stands at ₹2 lakh …

Budget 2023: Real Estate Sector Seeks Higher Tax Exemption On Home Loan Interest From Govt
1 year, 11 months ago

Budget 2023: Real Estate Sector Seeks Higher Tax Exemption On Home Loan Interest From Govt

ABP News  

The real estate sector exhibited a strong growth in 2022 after the decline in the pandemic and is now hopeful of continuing the upward trajectory. Across the nation, real estate developers are primarily expecting support in terms of higher tax exemption on the home loan interest under Section 24 up to Rs 5 lakhs from an existing Rs 2 Lakhs …

Home Loan to Remain Cheaper: RBI Relaxes Loan-to-Value Rules till March-end Next Year
2 years, 9 months ago

Home Loan to Remain Cheaper: RBI Relaxes Loan-to-Value Rules till March-end Next Year

News 18  

In a move to make home loans cheaper, the Reserve Bank of India on Friday announced that it will rationalise the risk weights and link them to loan-to-value ratios for new home loans till March 31, 2023. Being a tangible asset and safe haven investment, people continue to invest in real estate.” “As home loans are likely to remain cheaper, …

Budget 2022: Additional supply side reforms with higher incentives for home buyers can boost realty’s performance
2 years, 11 months ago

Budget 2022: Additional supply side reforms with higher incentives for home buyers can boost realty’s performance

Firstpost  

Union Budget 2022-23: Notwithstanding the various industry-specific amendments to the insolvency resolution laws, the implementation of the bankruptcy process for real estate companies remains a challenge In the recent past, schemes such as the Pradhan Mantri Awas Yojana have played a pivotal role in improving homeownership. Extend tax holidays for affordable housing beyond March ‘22 Incentives of extra deduction of …

Budget 2022: Cut in home loan interest rate, infra upgrades may make PM’s housing for all a reality
2 years, 11 months ago

Budget 2022: Cut in home loan interest rate, infra upgrades may make PM’s housing for all a reality

Firstpost  

Union Budget 2022-23: Among the direct benefits, Budget 2022 might bring a potential relief to direct home buyers with an increased limit of home loan interest deduction for tax rebate from Rs 2 lakh to Rs 5 lakh As the Union Budget is around the corner, the anticipations from across the industries are on a rise. Building on this, the …

Income tax benefit on home loan under affordable housing explained
3 years, 6 months ago

Income tax benefit on home loan under affordable housing explained

Live Mint  

Home loan interest rates coming down to the tune of around 7 per cent is good news for home buyers as it would lead to lower monthly EMI. This income tax benefit will be given in addition to ₹2 lakh home loan interest payment under Section 24 of the income tax act 1961. However, the question is, will the new …

A look at the winners and losers of Nirmala Sitharaman's Budget 2021
3 years, 11 months ago

A look at the winners and losers of Nirmala Sitharaman's Budget 2021

India Today  

Amid the sweeping economic distress triggered by the Covid-19 pandemic, Finance Minister Nirmala Sitharaman on Monday presented the Union Budget 2021, giving major emphasis to healthcare and infra sectors while leaving direct taxes unchanged. Here is a look at the gainers and losers from Budget 2021: WINNERS Healthcare Finance Minister Nirmala Sitharaman put health and well being as one of …

Budget: Additional Deduction of Rs 1.5 Lakh on Home Loan Interest Extended Till March 2022
3 years, 11 months ago

Budget: Additional Deduction of Rs 1.5 Lakh on Home Loan Interest Extended Till March 2022

News 18  

New Delhi: The government on Monday extended the additional tax deduction of Rs 1.5 lakh on interest paid on housing loan for purchase of affordable homes by one more year to March 31, 2022, a move aimed at boosting demand in the sluggish real estate sector. "In the July 2019 Budget, I provided an additional deduction of interest, amounting to …

Budget 2021: Concrete measures for a real estate push
3 years, 11 months ago

Budget 2021: Concrete measures for a real estate push

India Today  

Recognising the importance of reviving the real estate sector, which contributes 4.3 per cent to the country’s GDP and employs 52 million, the Centre had already set the ball rolling on a series of measures to support it, especially in the affordable segment. Moreover, in a bid to keep up the supply of affordable houses, she has proposed that affordable …

Filing tax returns: Can you claim extra deduction of ₹1.5 lakh on home loan?
4 years ago

Filing tax returns: Can you claim extra deduction of ₹1.5 lakh on home loan?

Live Mint  

NEW DELHI: In case you took a home loan during fiscal 2019-20 and are filing income tax returns, you may claim an additional deduction of ₹1.5 lakh from this year under Section 80EEA. However, you can’t claim the same interest as deduction under both Section 24 as well as Section 80EEA,” said Naveen Wadhwa, deputy general manager, Taxmann, a tax …

‘Housing for all’ scheme gets ₹18,000 cr
4 years, 1 month ago

‘Housing for all’ scheme gets ₹18,000 cr

Live Mint  

Bengaluru: An additional outlay of ₹18,000 crore for Pradhan Mantri Awas Yojana, over and above the ₹8000 crore allocated in the budget, by finance minister Nirmala Sitharaman on Thursday may help in giving an extra push towards the government’s ‘housing for all’ mission. “ ₹18,000 crore will be provided over the Budget Estimates for 2020-21 for Prime Minister Awas Yojana …

Tax relief! Govt announces relaxations for home buyers, developers - Check details
4 years, 1 month ago

Tax relief! Govt announces relaxations for home buyers, developers - Check details

India TV News  

Union Finance Minister Nirmala Sitharaman on Thursday announced income tax relaxations to allow sale of primary residential units of up to Rs 2 crore value below the circle rate. Meanwhile, the minister also announced a Rs 18,000 crore additional outlay for the urban housing scheme to help complete real estate projects that would create jobs and boost the economy. In …

Sitharaman unveils Atmanirbhar 3.0; tax relief for real estate, jobs creation scheme
4 years, 1 month ago

Sitharaman unveils Atmanirbhar 3.0; tax relief for real estate, jobs creation scheme

India TV News  

Union Finance Minister Nirmala Sitharaman on Thursday rolled out Atmanirbhar Bharat 3.0 stimulus package to boost economy. will make ₹ 6,000 crore equity investment in debt platform of National Investment and Infrastructure Fund, which will help NIIF raise ₹ 1.1 lakh crore by 2025 for financing infrastructure projects 2:08 pm: Differential between circle rate and agreement value in real estate …

Budget 2020: Has Finance Minister Nirmala Sitharaman set an unrealistic disinvestment target?
4 years, 11 months ago

Budget 2020: Has Finance Minister Nirmala Sitharaman set an unrealistic disinvestment target?

Firstpost  

When evaluating the Budget it is important to ask as to what exactly is the policy supposed to address. First on the prudential side, the government has stuck to the FRBM path and overtly stated that the revised number of 3.8 percent for FY20 is 0.5 percent away from what was targeted at 3.3 percent and hence is within the …

Full text of Budget 2020 speech by Finance Minister Nirmala Sitharaman
4 years, 11 months ago

Full text of Budget 2020 speech by Finance Minister Nirmala Sitharaman

India Today  

Finance Minister Nirmala Sitharaman on Saturday presented the second Union Budget of the Modi 2.0 government. Tax concession for foreign investments " In order to incentivise the investment by the Sovereign Wealth Fund of foreign governments in the priority sectors, I propose to grant 100% tax exemption to their interest, dividend and capital gains income in respect of investment made …

Nirmala Sitharaman's support for realty indicates Narendra Modi govt's willingness to get into micro details to revive growth in other sectors
5 years, 2 months ago

Nirmala Sitharaman's support for realty indicates Narendra Modi govt's willingness to get into micro details to revive growth in other sectors

Firstpost  

The present decision to open a new window for finance is hence quite timely and should address to a large extent the woes of the real estate segment The improvement in the World Bank Doing business rank is just a statistic, but sounds good in the global context. The decision taken to create an Alternative Investment Fund for Rs 25,000 …

Govt announces steps to boost housing, facilitate homebuyers
5 years, 3 months ago

Govt announces steps to boost housing, facilitate homebuyers

The Hindu  

The government on Saturday announced a ₹10,000 crore special window to provide last-mile funding for completion of ongoing housing projects, which are not NPAs or facing bankruptcy proceedings under NCLT. Announcing the measure, Finance Minister Nirmala Sitharaman said the government will contribute ₹10,000 crore for the special window and roughly the same amount is expected from outside investors. Ms. Sitharaman …

Govt to upfront infuse Rs 70,000-cr capital into public sector banks: Nirmala Sitharaman
5 years, 4 months ago

Govt to upfront infuse Rs 70,000-cr capital into public sector banks: Nirmala Sitharaman

India TV News  

Announcing upfront capital infusion of Rs 70,000 crore into public sector banks, Finance Minister Nirmala Sitharaman Friday said the move is expected to generate additional lending and liquidity in the financial system to the tune of Rs 5 lakh crore. The move is expected to generate additional lending and liquidity in the financial system to the tune of Rs 5 …

Lok Sabha passes Finance Bill, Sitharaman says budget proposals aimed at improving ease of living
5 years, 5 months ago

Lok Sabha passes Finance Bill, Sitharaman says budget proposals aimed at improving ease of living

India TV News  

Finance Minister Nirmala Sitharaman on Thursday said that the tax proposals in the Finance Bill 2019 are aimed at improving the ease of living and reducing the pain of the citizens. While replying to a discussion on the Finance Bill, Sitharaman said Budget proposals will promote Make in India and digital payment. The Minister, however, did not relax the tax …

Affordable housing: How to claim Income Tax deduction up to Rs 3.5 lakh on home loans
5 years, 5 months ago

Affordable housing: How to claim Income Tax deduction up to Rs 3.5 lakh on home loans

Firstpost  

In Union Budget 2019, affordable housing got a further fillip with an increase in Income Tax deduction of Rs 1.5 lakh on home loans In the Union Budget 2019, affordable housing got a further fillip with an increase in Income Tax deduction of Rs 1.5 lakh on home loans. Finance Minister Nirmala Sitharaman said the interest paid on housing loans …

Boost for affordable housing, rental market
5 years, 6 months ago

Boost for affordable housing, rental market

Hindustan Times  

The government will introduce a new model tenancy law to boost the fragmented rental housing market and has proposed further tax incentives in line with its continued effort to achieve the ‘Housing for All’ target by 2022, finance minister Nirmala Sitharaman said in her maiden Union Budget speech. The move by the government is likely to help streamline and boost …

Rental, affordable housing get a boost in Budget 2019
5 years, 6 months ago

Rental, affordable housing get a boost in Budget 2019

Live Mint  

The government will introduce a new model tenancy law to boost the fragmented rental housing market and has proposed further tax incentives in line with its continued effort to achieve the ‘Housing for All’ target by 2022, finance minister Nirmala Sitharaman said in her maiden Union Budget speech. “Current rental laws are archaic and do not address the relationship between …

Tax slabs for home buyers unchanged
5 years, 6 months ago

Tax slabs for home buyers unchanged

India TV News  

Finance Minister Nirmala Sitharaman on Friday presented her maiden budget in the Lok Sabha. In a major push to home buyers, the finance minister announced there would be no changes in the tax slabs. Earlier during the Interim Budget 2019, then Finance Minister Piyush Goyal had announced relief from taxing the notional rental income for the second self-occupied property. The …

Budget 2019: Rs 1.5 lakh income tax deduction on loans taken to buy e-vehicles
5 years, 6 months ago

Budget 2019: Rs 1.5 lakh income tax deduction on loans taken to buy e-vehicles

India Today  

In yet another bid to promote electric vehicle in the Union Budget 2019, Finance Minister Nirmala Sitharaman announced that there will be an income tax deduction of Rs 1.5 lakh on loans taken to buy e-vehicles. Nirmala Sitharaman, who made her maiden Budget speech in the Parliament on Friday, announced a tax deduction of Rs 1.5 lakh on loans taken …

Budget 2019-20: What to expect on Nirmala Sitharaman's first big day as Finance Minister
5 years, 6 months ago

Budget 2019-20: What to expect on Nirmala Sitharaman's first big day as Finance Minister

India TV News  

The first budget of Modi 2.0 government will be presented today by Finance Minister Nirmala Sitharaman. Banking Sector The Union Budget will have to address the pain of the banking sector which has taken a major hit with India’s economy dropping to a 5-year low at 6.8 per cent. In the interim budget, public sector banks had received Rs 1.6 …

Budget 2019 live updates | ₹70,000 crore recapitalisation for public sector banks
5 years, 6 months ago

Budget 2019 live updates | ₹70,000 crore recapitalisation for public sector banks

The Hindu  

Finance Minister Nirmala Sitharaman presents the maiden budget of the second Narendra Modi government in the Lok Sabha on July 5, 2019. Analysis “The proposal to let FIIs and FPIs to invest in debt securities issued by NBFC, would provide a much needed boost of capital to a sector now starving of capital; an important prop to several sectors, particularly, …

Budget 2019: All eyes on Nirmala Sitharaman as middle class expects raise in tax exemption limit
5 years, 6 months ago

Budget 2019: All eyes on Nirmala Sitharaman as middle class expects raise in tax exemption limit

India TV News  

The middle-class taxpayers may have a lot to cheer about in the Budget proposals to be presented by Finance Minister Nirmala Sitharaman on Friday. Sources said that the Budget 2019-20 will take the sops announced in the Interim Budget further by raising the basic tax exemption limit for an individual income tax payee to Rs 3 lakh from Rs 2.50 …

Budget 2019: Real estate sector seeks higher tax incentives for buyers, developers
5 years, 6 months ago

Budget 2019: Real estate sector seeks higher tax incentives for buyers, developers

India Today  

India's real estate sector has been witnessing a gradual slowdown since the Narendra Modi-led government had announced demonetisation in 2016. Several real estate brokerages and experts said the effects of government reforms introduced over the past few years still continue to trouble the sector, which contributes highly to India's GDP. But the output of the real estate sector has dampened …

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