Budget: Relief for homeowners, claim zero tax on 2 self-occupied properties

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The story "Budget: Relief for homeowners, claim zero tax on 2 self-occupied properties" was covered 4 hours ago by Business Standard, a news publisher based in India.

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Budget: Relief for homeowners, claim zero tax on 2 self-occupied properties - Business Standard

Quick Summary:

The new rule effectively means that individuals who own more than one home will no longer have to pay taxes on the notional rental income from these properties.

This revision provides significant relief not only to the middle class but also to high-net-worth individuals (HNIs), as many people own multiple properties that cannot be rented out due to various constraints such as family usage, legal issues, or unfavorable market conditions.

Families who have invested in second homes, often for investment or personal use, can now enjoy their properties without worrying about tax on notional rental income.