Centre declares revenue tax aid on sale of housing items

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Centre declares revenue tax aid on sale of housing items

NEW DELHI: Union finance minister Nirmala Sitharaman on Thursday introduced relaxations in revenue tax guidelines to permit the sale of main residential items of as much as Rs 2 crore worth under the circle charge.
Until now, a solely 10 percent distinction between the circle charge and the settlement worth was allowed.
To spice up the residential actual property sector, she stated the differential has now been elevated to 20 percent for interval as much as June 30, 2021, under theĀ main sale of residential items worth up to Rs 2 crore.

(Supply: PIB)

(Supply: PIB)
“This measure will cut back hardships confronted by each home-buyers and builders and assist in clearing the unsold stock,” she stated.


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