Tax holiday for affordable housing projects extended by another year: FM

To incentivize affordable housing, Finance Minister Nirmala Sitharaman proposed to extend an additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021.

New Delhi: In order to promote affordable housing projects, Finance Minister Nirmala Sitharaman proposed to extend the date of approval of affordable housing projects for availing tax holiday by one more year.

Let's know what is special for the Housing sector in this budget:

- Date of approval of affordable housing projects for availing tax holiday on profit earned by developers extended by 1 year.

- Centre extended an additional Rs 1.5 lakh tax benefit on interest paid on affordable housing loans to March 2021.