February 1, 2021
1 min read

Tax deduction on housing loans extended

The deduction so far was allowed on housing loans sanctioned on or before March 31, 2021…reports Asian Lite News

In a bid to increase demand in the realty market, Finance Minister Nirmala Sitharaman on Monday announced to extend the additional deduction of up to Rs 1.5 lakh for interest paid on loans of purchase of affordable houses, up to March 2022.

The deduction so far was allowed on housing loans sanctioned on or before March 31, 2021.

Further, in order to boost the supply of affordable houses in the country, the Budget proposed a tax holiday on profits earned by developers of affordable housing project approved by March 31, 2021.

The measures are expected to boost demand in the subdued realty sector.

Also read:Congress slams Budget as anti-farmer

Previous Story

Congress slams Budget as anti-farmer

Next Story

‘Trump tried to coax medical staff to downplay Covid threats’

Latest from -Top News

BRICS must break the digital chains

BRICS nations need to build consensus, balance innovation and social justice by reinforcing the digital sovereignty of Global South, including evenly distribution of benefits through AI, writes Baidya Bikash Basu BRICS, the

Modi begins landmark Argentina visit

First Indian PM to visit in 57 years; economic ties, lithium and trade top agenda Prime Minister Narendra Modi kicked off a historic visit to Argentina on Saturday by paying homage to

Texas flash floods kill at least 24; Trump vows help

President calls tragedy ‘shocking’ as search for missing continues overnight At least 24 people have died in Kerr County, Texas, after catastrophic flooding swept through the region, prompting a large-scale rescue and
Go toTop