Once upon a time, there lived a wise man in a village. All the villagers used to discuss important matters with him before taking any decisions, including finances. He always suggested the villagers what is apt for them. This was undoubtedly one of the easy practice and villagers also used to be very happy with this. But, the scenario turned pretty complicated when this wise man passed away. The primary challenge for the villagers was to take diligent decision – making calls in his absence because they lacked the wisdom of knowledge.
Everyone cherish the desire of owning a piece of sky. A place to call home and live the moments with the loved ones. This year budget has been quite aligned to take care of the basic requirement of a peaceful life. Yeah, you are right…residential homes are made within the reach of common people.
Once the nation is done with the New Year celebration hangover, they start looking forward to the budget for some more grooving moments. Every year, after the commencement of budget, we find that sometimes it hits the right cords, while sometimes it’s miss. Though the market experts are of the opinion that the major announcements of this Budget were been able to hit the right cords.
Budget time always comes with serious speculations and 2017 is no different. The nation always awaits eagerly for the revised Income Tax Slabs, and every year the budget seems to bring happiness for some and disappoint for others. But, whatsoever be the scenario is, the nation accepts it by considering the long run profitability proposition towards the country.
Next time when you wish to sell your two year old property, tax liability would be lower than the past, thanks to Budget 2017 -18. Before this budget, property sell was subjected to short term capital gains tax (STCG) if purchase period has not completed 3 years. Now property sale is subjected to Long Term Capital Gains tax (LTCG) for more than two year holding period. The rate for LTCG tax works out to be lower compared to short term capital gains (STCG) tax.