Ruling out rollback of the proposal to restrict tax incentive for second home to Rs 2 lakh per annum, Revenue Secretary Hasmukh Adhia on Saturday said there is no point in subsidising purchase of second property by those who have surplus funds. Moreover, he added that the tax incentive for second home loan borrower is being “virtually misused.” foreign companies subsidiay Citing limited resources, he said it is prudent to subsidise first-time buyer and not the second property owner who is not staying in that but earning income from the second unit. The Finance Bill 2017 has restricted set-off of loss towards second home against other heads of income up to Rs 2 lakh under Section 71 of the Income Tax Act. service tax consultant in delhi Read more info visit at: http://bit.ly/1QzBA6U
Brooks Consulting has become one of the most discerning names in the payroll industry. We are the distinctive firm of choice for payroll consulting solutions, outsourcing and co-sourcing, tax-proof management, leave/absence management, and employee self-service, as we have an ingenious and innovative commercial outlook.