Pressure on FM to finalise tax aspects

New Delhi: Pressure is rising on the Finance Ministry to look into various aspects of the reverse mortgage scheme and take decisions on tax treatment at the hands of both the borrower and the lender under such a scheme. With reverse mortgages deducting in a small way in the Indian market, bankers and prospective users of this product are keen that all taxation issues are addressed upfront by the Ministry as a matter of precaution. The Ministry was looking into the taxation aspect and no final view has emerged on the taxation policy on reverse mortgages.