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'Taxes in real estate not high compared to all subsidies': Deepak Shenoy counters broker's queries to FM on high taxes
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Also Read: Worried broker queries FM Nirmala Sitharaman about high taxes in share market, real estate. She replies… Shenoy, who is the CEO of SEBI-registered portfolio management service (PMS) Capitalmind.in explains that one can offset long term capital gains in anything by buying a house.
According to Shenoy, here's how the taxes in the sector are not large: -The stamp duty and GST are effectively your "cost" of the house and when you sell the house, you only pay tax on the profit after you deduct these charges. - You get the lowest interest rates on housing loans because for a silly reason the government wants to promote that versus actual businesses that give jobs.
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