Applicability regarding section 2(24)(xviii)
This query is : Resolved
26 July 2019
Hi there!!!
I want to know whether subsidy of rs. 2.67 lakhs received under "Pradhan Mantri Awas Yojna" in respect of home loan taken by assessee is taxable in the hands of such Assesse (whether individual or any else) u/s 2(24)(xviii)????
I want to know whether subsidy of rs. 2.67 lakhs received under "Pradhan Mantri Awas Yojna" in respect of home loan taken by assessee is taxable in the hands of such Assesse (whether individual or any else) u/s 2(24)(xviii)????
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27 July 2019
No. It falls under the exception of Section u/s 2(24)(xviii). However, in case of future capital gain the grant will not be included in the cost of acquisition.
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