Indexation removal by Govt is bad for property ownership
Many have no option but to borrow and buy real estate. A loan serviced for say 20 years, significantly increase the amount paid towards the property. Now, they no longer have recourse to adjust for inflation by availing indexation benefits. So, the cost of the house may be actually double than what was on agreement, due to servicing of interest. Double cost and no indexation benefits even to account for ravage of inflation for a single cost, is a double whammy for real estate holders. more
The payment interest is added while working out the purchase price of property. At the same time, tax payers are getting set off of interest paid upto Rs.1.5 lac p a . However, there is need to increase tax base and reduce tax rate. more
present govt have only from the day they have come have only increased hardships and taxes and to sr citizens it is worse.Whatever little they were getting they are killing it. more
I totally agree with Ms Reeta Kumar about removal of indexation benefits on long term capital gains. Mostly the middle class will suffer and their loss will be more than double as the interest on bank loan will add to their misery. Will the finance minister reconsider about this decision ? more
Only the rich will suffer. Middle classes will not suffer because they normally sell a property to buy another, better property and offset for new investment in residential property under Sec 54 remains. more
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By Suresh Dasarathy
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