Property Hoarders Will Pay More Tax
The Union Budget for 2017 eliminated the loophole regarding tax exemption of interest on home loan on property let out which was helping property hoarders. The set-off loss, calculated as home loan interest minus the rental income, will now be restricted to Rs2 lakh.  Additional loss can be carried forward for eight years. 
For example, if an individual has a second home earning a...
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