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74,161 Views โข Aug 4, 2024 โข Click to toggle off description
Itโs real estateโฆ
๐๐ผ The government gives this asset class the most benefits:
- 30% Standard Deduction on Rental Income thus, 70% tax rate applies
- Principal Repayment of Housing Loan is deductible from taxable salary u/s 80C
- Interest Repayment is deductible u/s 24
- Long Term Capital gain from any asset is allowed to be invested in Residential House for it to be tax free
Can you imagine how many asset classes have this benefit.
This was also recently pointed out by Deepak Shenoy.
๐๐ผ Above all, the fact that it is illiquid or you canโt convert it to cash immediately is also a strength because it allows the asset class to patiently compound, which just human impatience does not let happen as often in asset classes like stocks.
๐๐ผ Iโd recommend that not more than 40% of a personโs net worth should be invested in real estate, and as an investor, itโs great to have 30% of your portfolio in this asset class.
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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.
Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23
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YouTube Comments - 47 Comments
Top Comments of this video!! :3
Regarding last one you might forget that Govt. is trying their level best to impose new Tax regime so that there is not deduction.
11 |
"Indian Govt. loves real estate"....
Not anymore sweety๐๐
7 |
Remaining 70% ๐ค is tax per income
Unlisted equity offer same benefit
Stamp duty is worst
Loan intrrest intrest aresame for any secured for example car, hous
3 |
Once you are stuck in real estate, especially with builders, there is non recource, cancellation or even part refund of properties.
Property prices are higher than US, Singapore and Japan without justifying them !
Do not buy property for investment, just buy one for end use and if you do buy, buy from secondary market and in all cash deals. Don't fall for "easy loans" of loan shark and banks.
1 |
When the per capita income of citizens of India is so low, why is the price of a house so high. Even a 2 bhk flat is is not available at 4x of the per capita annual salary. It is due to black money penetration in this sector. Govt needs to keep a tab on this. There must be a crack down on real estate bubble and home is not an investment it is for living. Moreover, flat are not even cross ventilated. Who will pay heavy electricity bills. Is it the builder? Govt should withdraw all benefits given to real estate industry. Let them pay taxes so that they stop putting their money blindly in real estate and artificially raise prices.
2 |
Real estate indexation has removed and taxed at 12.5 instead of 20 percent. So overall tax is more. Real estate no longer remains a long term asset and again on that stamp duty registration fees etc etc. Then on loan the housing loan benefit is with the old regime which the government didn't extend under the new regime. Someday govt decides to scrap the old regime and voila its gone. Also on rental Income that is taxed at income slab rates thereby making it so much lucrative
1 |
I don't know what are u talking about but my all focus is on your head its shining
5 |
I want to know if the capital gains tax benefit can only be obtained if the under-construction property is completed within 3 years. What happens if the property is ready in the 4th year? Will the owner still receive the capital gains tax benefit?
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To all those who are taking about new tax without indexation.
Its taken back by the government.
We can choose to apply indexation again.
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New Regime is laughing at corner ๐
3 |
Under which section can we offset long term capital gains?
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Sure! now we know from where Daku Nirmala got her ideas.
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But house costs more. Thank you
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What about the new tax regime where none of these benefits work?
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Is this applicable for short term assets too
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Out of india in developed countries housing loan is 1-2 %
4 |
Save 12.5 percent income tax by spending 8 percent stamp duty and 5 percent gst ๐
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Because black money of politicians is invested in real estate
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Hagemaru financial advisor kab se ban gaya๐
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@noclicheplease
1 month ago
Nirmala mam has subscribed to your channel to get ideas for the next budget.
16 |