NAREDCO seeks higher home loan interest deduction, Settlement Commission revival in budget
Moneycontrol
NAREDCO requests increased home loan interest deductions, the reinstatement of a dispute resolution commission, and tax exemptions for rental income.Summary
The National Real Estate Development Council (NAREDCO) has urged the government to increase the home loan interest deduction limit to Rs 5 lakh in the upcoming budget. The developers’ body also recommended the reinstatement of the Income-tax Settlement Commission to facilitate dispute resolution. Furthermore, NAREDCO has requested an exemption from tax on notional rental income for entities involved in the real estate business, aiming to boost the rental housing sector. These recommendations are intended to stimulate growth and address key challenges within the real estate market.
(Source：Moneycontrol)