New Income Tax Rules from 1st April

Finance Minister Arun Jaitley ascertains several changes in the Budget 2018-19 and decided not to change the income tax rates and the slabs. FM, also, did a couple of changes in income tax that will impact the common man alias the taxpayers. All these changes will reflect from the next month as the taxpayers will set get to pay their share of the tax amount.

Income Tax

Img : siasat

The changes like new long-term capital gains tax on stocks and equity mutual funds and relief for senior citizens on interest income have been introduced in the budget for the financial year 2018-19. FM, Arun Jaitley gave relief to the salaried people by introducing the standard deduction. Another key feature that will affect the taxpayers is that the increase in cess will now be directly charge on the tax income payable.

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Union Budget 2018: What Real Estate Sector wants from FM Arun Jaitley?

The real estate sector saw many ups and downs in the year 2017, whether in the form of Demonetization or announcement of many structural policy reforms which otherwise led to the complete overhaul of the real estate industry. With budget 2018 on its way, the realty sector is restraining its hopes for relief measures like lower taxes and infrastructure status.

Union Budget  in real estate sector

Source : fpgindia

Key issues or areas of concern for the sector

Industry Status: It’s been a long pending demand of real estate players that this sector must be allotted an ‘Industry status’. Because of no such status it becomes difficult for the real estate sector to avail legitimate finances from banks and other financial institutions.   As per many experts, industry status to the sector can help it in getting low-cost loans and in turn reducing project costs, which will finally benefit buyers.

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