Impacts of Budget 2019 on Real Estate Sector:
- No tax on notional rent on second self occupied property.
- TDS threshold on rental income raised from Rs 1,80,000/- to Rs 2,40,000
- Benefits of rollover of capital tax gains to be increased from investment in one residential house to that in two residential houses.
- Benefits under section 80(i)BA being extended for one more year for all housing projects approved till end of 2019-2020.
- Tax on notional rent on unsold inventory to be levied after 2 years.
- Govt has formed a panel to resolve GST Issues troubling real estate sector.
- Govt aims to build next-generation infrastructure -Physical as well as social – for a $10 Trillion economy and to provide ease of living