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- Direct Tax Code
The proposed direct taxes code, which has been unveiled for public debate and is due to become operational from April 2011, does not provide tax incentives to loan-funded house purchases that are for personal use.
The government may modify the draft direct tax code to retain tax shelters on interest and principal repayments for home loans to make the proposed new code more attractive for the average Indian, a finance ministry official told ET. For more read
- A good re-post by Ranjit and yes, Alien is right, most deductions will go if the DTC is adopted. We have to wait and watchCommentQuote0Flag