Tax incentive on second home misused, won’t extend it beyond Rs 2 lakh: Govt HIGHLIGHTS The Finance Bill 2017 restricts set-off of loss towards second home against other heads of income up to Rs 2L under Sec 71 of the I-T Act Currently, there is no such limit for set-off of loss from house property,…

Builders will be eligible for tax and subsidy incentives, and institutional funding at affordable rates. Union Finance Minister Arun Jaitley, in the Budget 2017-18, has proposed to grant ‘affordable housing’ the coveted infrastructure status to facilitate higher investment in the sector and, in turn, achieve the government’s ambitious goal of ‘Housing for All’. The grant…

SBI home loans up to Rs 75 lakh, earlier available at 9.1%, can now be taken at 8.6% The reduction in MCLR will mean that new borrowers will get loans at the cheaper rates Old borrowers will have to enter into a fresh contract with the bank (by paying a small fee) to get loans…