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FM Provides Tax Relief For Developers And Home Buyers

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Finance Minister today announced an income tax relief for home buyers. Presently Sec43CA of the Income Tax Act, restricts differential between circle rate and agreement value to 10 per cent.

The differential value has now been increased to 20 per cent from the beginning of the announcement until June 30, 2021 for primary sale of residential units upto Rs 2 cores.

The move is expected to help clear inventory for developers and reduce the hardships for home buyers.

FM Provides Tax Relief For Developers And Home Buyers
 
Story first published: Thursday, November 12, 2020, 14:30 [IST]
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