Additional interest of Rs. 50000 announced for loans upto Rs. 35 lakh for 1st time home buyers

The Finance Minister announced deduction for additional interests of Rs.50,000 per annum for loans up to Rs.35 lakh sanctioned in 2016-17 for first time home buyers, where house costs does not exceed Rs.50 lakh.

Shri Jaitley also proposed to exempt Service Tax on construction of affordable housing up to 60 sq. mtrs. under any scheme of the Central or State Government including PPP Schemes. He also proposed Excise Duty exemption presently available to concrete mix manufactured at site for use in construction work to ready-mix concrete.

Source : Equity Bulls

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