Tax holiday under section 80 IB(10) of the Income Tax Act on profits for the builders...
An interest subsidy of 1 per cent for 1 year on housing loans of up to Rs 10 lakh for properties worth less than Rs 20 lakh for the property buyer!
Builders, pass on the benefits of the Tax Holiday to the property buyers! How sweet of you Pranab!!
For Property Buyer: 1 per cent interest subsidy for 1 year!Finance Minister Pranab Mukherjee today announced an interest subsidy of 1 per cent for one year on housing loans of up to Rs 10 lakh for properties worth less than Rs 20 lakh, a move that has been widely welcomed by realtors and home loan companies. The measure is expected to cost the exchequer Rs 1,000 crore.
For Builders: Tax Holiday!Mukherjee also allowed developers of housing projects a tax holiday under section 80 IB(10) of the Income Tax Act on profits from projects approved between April 1, 2007 and March 31, 2008, provided the projects are completed on or before March 31, 2012. Mukherjee asked developers to pass on the benefits of this tax break to consumers.
Mukherjee made these announcements in the Lok Sabha today as part of his reply to the discussion on the Finance Bill. Both houses of Parliament passed the Finance Bill 2009-10, which included a raft other concessions.
To read more, please, visit - Govt to provide 1% home loan subsidy
"Ab tera kya hoga Kaalia of Hinjewadi?"
Dear Mr. Kaalia of Hinjewadi, you voted for RahulBaba in the last Lok Sabha elections. But, failed to give enough sits to form the government without the help of friendly parties.
Now, pay for your fault.
Next time, your builder will contribute to the party to buy a mandate of Indian urban and rural poor voters!
Now, what will happen to you Kaalia?
Yes, you can tell me in the comments..anonymously!
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