affordablehomes

REAL ESTATE SECTOR, ANNULLED FROM THE ACTUALITY OF THE SCENARIO Amplification in the supply of affordable homes and the requirement to meet the objective of ‘Housing for All’ has landed the developers of these projects in a tax holiday on profit situation. Under section 24B of the Income Tax Act, deductions have been permitted to the consumers up to Rs. 2lakh interest payments on loans for houses for properties occupied by self. Nirmala Sitharam, Finance Minister, in her July budget quoted permission for further deductions…