There is relief news for general public and businessmen before Diwali! Reserve Bank of India (RBI) can cut 25 Basis Point in the next MPC meeting to be held on 29-30 September. This information is given in the latest report of State Bank of India (SBI). According to the report, inflation rates can go below 2% in September and October and by fY 2027 it is expected to be 4% or less. The impact of GST rates will also be clearly visible – inflation may fall by 1.1% in October, which may be the lowest level after 2004. In August, the CPI was above 2%, but was much lower than the RBI estimates (3.2%). If RBI reduces the REPO rate this time, the EMI of Home Loan, Personal Loan and Business Loan can be relieved. The RBI has already cut 0.50% in June, and now the Indian market is expected to have cheaper rates after the cut by American Federal Reserve.

The last date of Income Tax is near September 15. If you are a tax payer and want to buy a new by selling your old property, then this news is for you. Section 54 and Section 54F of Income Tax Act give you great relief from tax. Section 54 – If you sold Residential Property and the long term capital gain on it again invested in the new Residential Property, then you will not have to pay 20% LTCG tax. Section 54F-If you sold non-residential property and buy Residential Property, then you can get exemption from tax. Just keep in mind, these discounts only get individual and huff. You can take advantage of this only on the property located in India. Also, there is an option to invest in two houses in capital gains up to 2 crores.