Scheme for Promoting Affordable Housing And Real Estate Sector, Indian Budget 2017-18

 

Indian  Budget 2017-18, Schemes for Promoting Affordable Housing And Real Estate Sector

 

Scheme for Promoting Affordable Housing And Real Estate Sector, Indian Budget 2017-18Indian budget highlights on schemes for Promoting Affordable Housing And Real Estate Sector is extracted below:

 

Between 8th November and 30th December 2016, deposits between 2 lakh Rupees and 80 lakh Rupees were made in about 1.09 crore accounts with an average deposit size of ` 5.03 lakh. Deposits of more than 80 lakh were made in 1.48 lakh accounts with average deposit size of ` 3.31 crores.

Under the scheme for profit-linked income tax deduction for promotion of affordable housing, carpet area instead of built up area of 30 and 60 Sq.mtr. will be counted.

The 30 Sq.mtr. limit will apply only in case of municipal limits of 4 metropolitan cities while for the rest of the country including in the peripheral areas of metros, limit of 60 Sq.mtr. will apply

For builders for whom constructed buildings are stock-in-trade, tax on notional rental income will only apply after one year of the end of the year in which completion certificate is received

Reduction in the holding period for computing long term capital gains from transfer of immovable property from 3 years to 2 years. Also, the base year for indexation is proposed to be shifted from 1.4.1981 to 1.4.2001 for all classes of assets including immovable property

For Joint Development Agreement signed for development of property, the liability to pay capital gain tax will arise in the year the project is completed

Exemption from capital gain tax for persons holding land on 2.6.2014, the date on which the State of Andhra Pradesh was reorganised, and whose land is being pooled for creation of capital city of Andhra Pradesh under the Government scheme

 

 

Learn Imports and Exports business free of cost

How to register with GST in India? Step by step guidelines

How to export goods?

 

Definition of E-Commerce under GST
How to identify the steps in enrolment process of a tax payer at the GST common portal.
TDS under GST, Frequently Asked Questions
Does Interest attract on GST Tax payment delay?
Step by step procedure to login with GST common portal in India
Mechanism of Payment of GST tax in India

 

How to open an LC? Procedures to open a Letter of Credit

How to overcome credit risk in export business?

How to overcome Negative thoughts in export business

How to prepare an Export Invoice. Contents of Export commercial Invoice:

How to prepare an Export Packing list. Contents of Export Packing list

How to prepare Purchase order

Transferability of Bill of Lading

Transhipment - A redefinition


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers