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Interim budget 2019: Benefits for Home Buyers

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Interim budget 2019: Benefits for Home Buyers

Last updated: February 24 2019
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  • Interim budget 2019: Benefits for Home Buyers

    Finance minister Piyush Goyal presented the much awaited Interim Budget in Lok Sabha today. The budget has come in with some great recommendations and provisions for home buyers and the real estate sector. Let us point those out and put in your views.
    Last edited February 1 2019, 02:56 PM.
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  • #2

    #2

    Re : Interim budget 2019: Benefits for Home Buyers

    Recommendations have been made to the GST Council to reduce the tax burden on home buyers and bring down the GST rates that apply currently.
    Last edited February 1 2019, 03:09 PM.
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    • #3

      #3

      Re : Interim budget 2019: Benefits for Home Buyers

      As a once in a lifetime benefit, the rollover of capital tax gains is proposed to be increased from investment in one residential house to that in two residential houses, for a tax payer having capital gains of up to Rs 2 crores.
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      • #4

        #4

        Re : Interim budget 2019: Benefits for Home Buyers

        The exemption on notional rent on unsold inventory has been increased from 1 to 2 years. To be precise, notional rent will be levied only after 2 years.
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        • #5

          #5

          Re : Interim budget 2019: Benefits for Home Buyers

          Under Affordable housing, Section 80IBA, the benefits will be extended by another year if registered by 2020.
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          • #6

            #6

            Re : Interim budget 2019: Benefits for Home Buyers

            The TDS exemption on rental income has been increased from Rs 1.8 lakhs to Rs 2.40 lakhs.
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            • #7

              #7

              Re : Interim budget 2019: Benefits for Home Buyers

              The TDS threshold on interest earned from banks, FDs, etc. has been raised from Rs 10,000 to Rs 40,000.
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              • #8

                #8

                Re : Interim budget 2019: Benefits for Home Buyers

                The notional rent to will be exempted on second self-occupied house.
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                • #9

                  #9

                  Re : Interim budget 2019: Benefits for Home Buyers

                  The standard deduction has been raised from Rs 40,000 to Rs 50,000 for salaried class.
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                  • #10

                    #10

                    Re : Interim budget 2019: Benefits for Home Buyers

                    Individual tax payers with an annual income of up to Rs 5 lakhs will get full tax rebate. Those with gross income of Rs 6.5 lakhs may not be required to pay tax, if they do investments in specified savings like VPF, etc.
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