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News Misc. - Direct Tax

  • Feb 02, 2019
  • Government allows reinvestment of capital gains in two homes

    Among a slew of tax concessions announced in the Interim Budget 2019 that will help home owners is the one where income tax that is levied on notional rent accruing from a second self-occupied house will be done away with. “Considering the difficulty of the middle-class having to maintain families at two locations on account of their job, children’s education, care of parents, etc., I am proposing to exempt levy of income tax on notional rent on a second self-occupied house,” finance minister Piyush Goyal said.