New Income Tax Rules On House Loan
BenefitsHouse loan in IndiaThe government reduced the tax incentives that borrowers enjoy when using the rental property. Such unfavorable losses proposed to limit the loss of real estate under other real estate income during the year to cope with the current anomaly deductions on real estate deduction against existing real estate, There is a possibilitythat it may be carried forward to offset the household goods goods income over the 8-year evaluation period, "Minister of Finance Minister Erni Giotrey said in the 2017 - 18 budget speech. However, according to the proposed change, with respect to the rental property, the borrower can claim only the maximum Rs deduction. Afteradjusting the rental income, 2 lakh a year. And the amount above Rs. 2 Rough can be taken overthe 8-year evaluation period. Experts say borrowers may not be able to fully adjust the interest paid as a deduction in subsequent years,as the interest component of the mortgage repaid in the first year is higher. However, the Minister of Finance at Federal Budget 2017-18 proposed a tax cut due to gains on the sale of real estate. Mr. Jaitley proposed that the term of qualification for long-term benefits will be shortened from three years to two years now. If real estate is sold within 3 years from purchase according to the current tax standards, the profit from that transaction will be treated as short term capital gains and taxed according to the slab rate.