Budget 2019: No income tax on notional rent on 2nd self-occupied house, says FM Goyal-June 2024-www.financetom.com

Budget 2019: No income tax on notional rent on 2nd self-occupied house, says FM Goyal

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Budget 2019: No income tax on notional rent on 2nd self-occupied house, says FM Goyal

Feb 1, 2019 3:54 AM

The government on Friday said the roll over of capital gains will be increased from investment in one residential home to two residential homes.

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When an individual sells a residential property, he will be now eligible for exemption under Section 54 for two properties bought, said Finance Minister Piyush Goyal, while announcing the interim Budget 2019.

Goyal also said there will be no TDS (tax deducted at source) on house rent of up to Rs 2.4 lakh.

The government said the benefits under Sec 80(i)BA will be extended for one more year, for all housing projects approved till end of 2019-2020.

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