NEW DELHI (INDIA): India’s Finance Minister Arun Jaitley is all set to present the Union Budget for 2017-18 on 1st February.This would be his third full-year Budget. So all eyeballs on his briefcase, what Jaitley is going to present for India.
Lets go through NoBroker’s pre-budget expectations from Jaitley.
Amit Kumar Agarwal, CEO – NoBroker says,”We expect the budget to make it more affordable to individual taxpayers to own houses especially in the wake of delayed projects due to demonetization and liquidity pressures on developers.
“We expect the section 80GG to be revised for making the HRA for self-employed people equivalent to salaried class. We are hopeful that tax deduction on home loan interest would be allowed to be claimed in the under-construction period itself, and the tax deduction limit for self-occupied houses will be increased to 3 lakh rupees on home loan interest. The cap on value of home for additional tax deduction for first-time buyers need to be removed to encourage and enhance home ownership,” he added.