INSUBCONTINENT EXCLUSIVE:
Budget 2019: This will be the last budget before the general election due by May this year.The government will present the interim Budget
This will be the last budget before the general election due by May this year
From industry experts to common public, all eyes will remain on Budget announcements for any signs of changes in policy for the coming
For the real estate sector, experts think that a much-needed impetus is required from the Union Budget 2019
Earlier, industry body Ficci had said that the government should increase the income tax deduction limit for individuals on interest payment
against loans taken for acquisition or construction of self-occupied property.Here's what other real estate experts say on their
This will enable developers to raise funds at lower rates and reduce their cost of capital which would eventually have a bearing on overall
The move would provide a fillip to the stress-stricken sector amid the reforms-driven new order.""Presently real estate falls under the 18
per cent tax bracket of the Goods and Services Tax (GST) Act with 1/3rd abatement for land taking the effective tax rate to 12 per cent
However, in major metros, the share of land is more than 50 per cent of the project cost
We therefore recommend that the government aligns this with market realities and accordingly increase the abatement for land to 50 per cent
thereby bringing down the effective tax rate to 9 per cent.""At present, Section 80 C of the Income Tax Act does not give a singular focus
on housing because of numerous competing investment alternatives
To augment the house purchase decision and provide some fillip to real estate sales, it is suggested to carve out a separate annual
deduction of Rs 1,50,000 for the principal repayment.""Despite the regulatory approval being in place for quite some time, Real Estate
Investment Trust (REIT), a potent instrument of change in the real estate industry, has been held back
For unit holders, the long-term capital gains holding period for REIT units should be brought down from 3 years to 1 year (at par with
not change tax structure in interim budget, but this time due to improvement in direct tax collection government can provide some relaxation
to middle class.""Real estate industry will be expecting increase in tax benefits on home loan interest from 2 lakh to 3 lakh as well as
policy announcements here
Like us on Facebook or follow us on Twitter for more on Union Budget 2019.
