In the second and last stimulus package to revive the economy, the government is likely to raise the cap on income tax exemption on interest on home loans to Rs 2 lakhOn housing loans, at present, a borrower is allowed tax rebate on up to Rs 1.50 lakh paid as interest on home loans. The limit was set in 2001 and the real estate industry has been making a strong pitch for raising the cap.
The Economic Times
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