Hindustan Times-Homeowners get simpler tax rules, higher limits in Sitharaman's budget
When homeowner Akhilesh Kumar learned about the new tax provisions for property owners in the budget announced by finance minister Nirmala Sitharaman on Saturday, he quickly calculated that he could save up to ₹1.5 lakh annually on his rental income.
In her budget speech on Saturday, Sitharaman announced several measures aimed at easing the tax burden on property owners, including a significant increase in the threshold for Tax Deducted at Source (TDS) on rental income from ₹2.4 lakh to ₹6 lakh annually. This means TDS will now only apply when monthly rent exceeds ₹50,000, up from the previous ₹20,000 threshold.
