Budget in nutshell: what Jaitley proposes for affordable housing

GN Bureau | February 29, 2016


#NDA government   #arun jaitley   #governance   #economy   #budget 2016   #housing  


* 100% deduction for profits to an undertaking in housing project for flats upto 30 sq. metres in four metro cities and 60 sq. metres in other cities, approved during June 2016 to March 2019 and completed in three years. MAT to apply.Budget 2016

* Deduction for additional interest of Rs 50,000 per annum for loans up to Rs 35 lakh sanctioned in 2016-17 for first time home buyers, where house cost does not exceed Rs 50 lakh.

* Distribution made out of income of SPV to the REITs and INVITs having specified shareholding will not be subjected to Dividend Distribution Tax, in respect of dividend distributed after the specified date.

* Exemption from service tax on construction of affordable houses up to 60 square metres under any scheme of the Central or State Government including PPP Schemes.

* Extend excise duty exemption, presently available to Concrete Mix manufactured at site for use in construction work to Ready Mix Concrete.
 

Comments

 

Other News

Dying cultural expressions

Every year since 2000, February 21 is observed as International Mother Language Day by United Nations Educational, Scientific and Cultural Organisation (UNESCO). It is to celebrate linguistic and cultural diversity, and multilingualism.

Need for state laws for compulsory registration of marriages

Indian women marrying NRIs, glamorous though it sounds, has recently become a cause of serious concern. The reason for this is the alarmingly high rates of desertion of women marrying NRIs, said a blog posted on the Niti Aayog website.    The blog ‘NRI: Non Reliabl

The rot at the top

CBI is supposed to be the last resort to catch the corrupt after all other options have not yielded the desired result. But, who will now tackle corruption now that two of the former top officials of the premier investigating agency are themselves facing charges.   India is s

Demonetisation is short-term challenges for long-term gains: Usha Ananthasubramanian

Post demonetisation, what are the challenges faced by banks? Post demonetisation, the major challenges are retention of CASA [current account, savings account] deposits, deployment of these funds, impact of spurt/decline in low-cost deposits on MCLR [marginal cost of fund

Universal Basic Income: The way forward

9.44 The irresistible force of even as powerful an idea as UBI will run into the immovable object of a resistant, pesky reality. So, what is the way forward, always remembering that the yardstick for assessment is not whether UBI can be perfect or faultless but only whether it can impr

Should action be taken against hospitals which have hiked the heart surgery cost?

Should action be taken against hospitals which have hiked the heart surgery cost?

Video

जल्द आएंगे 1000 रुपये के नए नोट
Digital Transformation Summit

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter