The Finance Minister, Nirmala Sitharaman, has indicated that the interim Budget, to be presented on February 1, will not contain any major announcements or changes. The government, however, could still consider bringing some changes to provide an impetus to the economy as well as increase the disposable income in the hands of individuals.
Real estate prices have risen significantly over the last few years forcing individuals to take larger loans for purchasing property. Homebuyers need to make EMI payments and pay rent until the property is ready for use. The government may consider increasing the present limit of ₹2 lakh in respect of deduction towards interest on self-occupied property.
Please click here to read the full article by Kumarmanglam Vijay, published in The Hindu Businessline.
Kumarmanglam is an equity partner of the firm and also heads the direct tax and regulatory practice at JSA. He has more than 25 years of experience in matters relating to direct taxation (including international taxation, transfer pricing, litigation, anti-avoidance laws, and M&A tax), accounting, and corporate laws including mergers and acquisition, joint ventures, foreign investments, market entry strategy, and corporate restructuring.