Budget 2019: Income tax on deemed rent from second house removed

Budget, Finance, General, News, NRI, SEBI

The interim finance minister abolished income tax on notional rent from the second self-occupied house, benefiting those with two houses but no outstanding loan on the second one. “Since most people don’t have housing loans running on their self-occupied second house, this will benefit them. The main advantage of this move is operational – it does away with disputes regarding the computation of notional rent,” said Suresh Surana, founder, RSM India.