I was thinking of a second home, should I still go for one after the Rs 2 lakh cap proposed on tax benefit in this Budget?
Tax benefits should not be the only factor based on which you should buy a property
I was thinking of a second home, should I still go for one after the Rs 2 lakh cap proposed on tax benefit in this Budget?
Surveen Kaur, Gurgaon
First, tax benefits should not be the only factor based on which you should buy a property. What Budget 2017 did was to do away with the earlier anomaly in the system which helped home buyers offset the higher deduction of interest payable on loan for a high-value second home. Buy a house; if you need it, else there is no reason to go for a second home, especially based solely on tax benefits that you could claim.