Housing Friendly Budgets

The need for rationalising the tax system related to housing is beyond question. Each year has seen short-sighted add-on provisions directed at tackling issues raised by various stakeholders. The attempt has not been to formulate a consistent tax policy as a complement to other policy instruments or as part of a comprehensive policy to solve the problem of housing. This task remains to be accomplished. The recommendations of Task Force on Direct Taxes do not meet this objective even partially.