Union Budget will be presented on 26th February 2010 in Parliament. We at Accomodation Times sent a deliberation and recommendation to FM, briefly as follows:
1. Extent benefits under section 80 IB for houses under 1000 sq.ft.
2. Increase exemption limit of home loan interest and principle up to Rs.10 lakhs.
3. Housing Loan subsidiary for loans upto 35 lakh in urban centres.
4. Do not allow exemption for second home loan for investment purposes
5. Adminiter the price of Cement, Steel and woods used in construction activities.
6. Complete exemption of co-operative housing society income.
7. VAT, MAT and GST should not be applicable while booking under construction projects.
8. 2% tax on gross assets must not be imposed
9. Commercial lease should be treated as Income from House Property.
10. Stamp Duty and registration should be rationalised and limits must be fixed.