Govt announces tax relief on sale of housing units

Finance Minister Nirmala Sitharaman on Thursday announced relaxations in income tax rules to allow sale of primary residential units of up to ₹ 2 crore value below the circle rate.

Till now, only 10% difference between the circle rate and the agreement value was allowed.

To boost residential real estate sector, she said the differential has now been increased to 20% for period up to June 30, 2021 for only primary sale of residential units of value up to ₹ 2 crore.

“This measure will reduce harships faced by both home-buyers and developers and help in clearing the unsold inventory,” she said.

.

Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

RJD urges Bihar farmers to support protest in Delhi over new...

There is no provision for farmers’ interest in the law, says party leader Tejashwi Yadav. Rashtriya Janata Dal leader Tejashwi Yadav appealed to farmers...

Explosion at South African crude oil refinery in Durban, metro police...

According to Engen’s website, the Durban plant has a crude refining capacity of 120,000 barrels per day. There was an explosion at South Africa's...

RBI keeps repo rate unchanged, stance ‘accommodative’

The Reserve Bank of India (RBI) on Friday kept its key lending rate unchanged for the third time in a row as widely expected...

Rate-Sensitive Banking, Auto and Realty Shares Witness Buying Post RBI Policy

<!-- -->ICICI Bank, HDFC Bank, Maruti Suzuki and Godrej Properties gained up to 2 per cent eachThe rate-sensitive banking, auto and realty stocks are...

More Articles