(5) Housing loan: In 2015, PM Narendra Modi-led government announced the Pradhan Mantri Awas Yojna (PMAY). The scheme is aimed to provide housing for all. Hence, some tax concessions in the budget may be announced. The increase in the tax deduction for interest paid on housing loan is anticipated. In the Union Budget 2017-18, some concessions may be offered to increase the tax benefit on payment of interest beyond the annual Rs 2 lakh, to give a helping hand to both the industry and taxpayers. (Image: PTI/File)