https://www.taxtmi.com/acts?id=47069 The amendment adds a new clause permitting deductions for subscription to notified Government securities and for payments towards purchase or construction of residential house property (completed after 31 March 1987) where income is chargeable under Income from House Property. Allowable payments include instalments to development authorities, amounts due to companies or co operative societies, repayment of loans from prescribed lenders, and transfer expenses; specified items such as admission fees, standalone land cost (except composite consideration), post completion repairs, and amounts deductible under house property provisions are excluded. Refunds or early transfers within five years trigger disallowance and recapture as income, and a statutory cap limits aggregate qualifying payments. Definitions for key terms are prescribed. en-us Tue, 07 Jan 2025 12:27:58 +0530 Tue, 07 Jan 2025 12:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47069 The amendment adds a new clause permitting deductions for subscription to notified Government securities and for payments towards purchase or construction of residential house property (completed after 31 March 1987) where income is chargeable under Income from House Property. Allowable payments include instalments to development authorities, amounts due to companies or co operative societies, repayment of loans from prescribed lenders, and transfer expenses; specified items such as admission fees, standalone land cost (except composite consideration), post completion repairs, and amounts deductible under house property provisions are excluded. Refunds or early transfers within five years trigger disallowance and recapture as income, and a statutory cap limits aggregate qualifying payments. Definitions for key terms are prescribed. Act-Rules F. Acts / Amendment Acts Tue, 07 Jan 2025 12:27:58 +0530 https://www.taxtmi.com/acts?id=47069