PwC India recently demanded
increasing the cap on interest payments on home loans & medical expenses
for the purpose of tax benefits in the upcoming Budget 2013-14.
Consultancy company
PwC recently demanded increasing the cap on interest payments on housing loans
for the purpose of tax benefits in the upcoming Budget, 2013-14.
Mr. Sandeep Ladda,
Executive Director, PwC India said, "Now, interest payments of up to
Rs. 1.5 lakh are eligible for deduction and we feel it should be increased to
Rs. 3 lakh. The real estate sector has been under pressure for quite some time
now and the Union government should incentivise investments into the sector,
which will go a long way in helping the economy".
Finance Minister Mr.
P. Chidambaram is scheduled to present his Budget 2013-14 on February 28, 2013
and he has a tough task in hand to rein in fiscal deficit which he had said
would be capped at 4.8% next fiscal and 5.3%cent of GDP this fiscal.
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