Wednesday, 8 February 2017

A Comment on provision of tax deduction on Second Home Loans

My comment on an article "Budget 2017: Government rules out tax incentive beyond Rs 2 lakh for a second home" published in the Dated 04/02/2017.

"This is a very reasonable argument. 

Why should the government bear loss on account of providing a second home to people? 

Allowing a deduction for the first home is an act of generosity and it is necessary also. 

But, allowing deductions for a second home also is equal to the foolishness of the administration. 

That money could be used more beneficially in providing homes to the homeless people. So, the government is justified in doing so. They should restrict the amount to Rs 2,00,000 only with immediate effect."

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