Budget Proposal: Additional deduction (Section 80 CCF) for infrastructure bonds of Rs. 20,000 has not been extended beyond assessment year 2012-13 .
Real Impact: Infra bonds will lose their attractiveness.
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Budget Proposal: Seller of immovable property (plot of land, House) with value exceeding Rs. 50 lakh urban areas (Rs 20 lakh for rural areas) will need to deduct tax at source at 1% of the sale value, and pay it to the government treasury.
Real Impact: While this will help in tracking/ bringing to tax the transactions in real estate sector generally, there would be an additional compliance burden to be undertaken by the seller.
#$*88^^^
Budget Proposal: Long term capital gains (LGCG) from sale of house property will not be taxable, if invested in equity shares of eligible companies (typically manufacturing small medium enterprise- SMEs).
Real Impact: An additional avenue is now available to save tax on long term capital gains. This will also channelize funds to the SME sector.
**^^#
Real Impact: Infra bonds will lose their attractiveness.
****##^^
Budget Proposal: Seller of immovable property (plot of land, House) with value exceeding Rs. 50 lakh urban areas (Rs 20 lakh for rural areas) will need to deduct tax at source at 1% of the sale value, and pay it to the government treasury.
Real Impact: While this will help in tracking/ bringing to tax the transactions in real estate sector generally, there would be an additional compliance burden to be undertaken by the seller.
#$*88^^^
Budget Proposal: Long term capital gains (LGCG) from sale of house property will not be taxable, if invested in equity shares of eligible companies (typically manufacturing small medium enterprise- SMEs).
Real Impact: An additional avenue is now available to save tax on long term capital gains. This will also channelize funds to the SME sector.
**^^#
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