Incentives for Promoting Investment in immovable property in Budget 2017 - 18, - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
Trending
Powered by Blogger.
Saturday, February 04, 2017

Incentives for Promoting Investment in immovable property in Budget 2017 - 18,

Incentives for Promoting Investment in immovable property in Budget 2017 - 18, 

The existing provision of the Act provide for concessional rate of tax and also indexation benefit for taxation of capital gains arising from transfer of longterm capital asset.

To qualify for long-term asset, an assessee is required to hold the asset for more than 36 months (3 year) subject to certain exceptions, for example, the holding period of 24 months (2 year) has been specified for unlisted shares.

W ith a view to promote the real-estate sector and to make it more attractive for investment, it is proposed to amend section 2 (42A) of the Act so as to reduce the period of holding from the existing 36 months to 24 months in case of immovable property , being land or  / building or both, to qualify as long term capital asset.

This amendment will take effect from 1st April, 2018 and will, accordingly , apply in relation to the assessment year 2018-19 and subsequent years. [Clause 3]


Incentives for Promoting Investment in immovable property in Budget 2017 - 18, Reviewed by S. Chitra on February 04, 2017 Rating: 5 Incentives for Promoting Investment in immovable property in  Budget 2017 - 18,  The existing provision of the Act provide for concessi...

No comments:

Google+ Followers