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Income Tax : Real estate sector is one of the most globally recognized sectors. It comprises of four sub sectors – housing, retail, hospi...
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Income Tax : It is proposed to insert sub-section (1A) in the said section so as to provide for hundred per cent. deductions of the profits and...
Income Tax : After section 80-IB of the Income-tax Act, section 80-IBA shall be inserted with effect from the 1st day of April, 2017. The secti...
Income Tax : While presenting interim Budget 2019-20 For making more homes available under affordable housing, the benefits under Section 80-...
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Under section 80-IBA, inserted by the Finance Act, 2016 from 1.4.2017, deduction of 100% of profits derived from development of affordable housing projects approved on or after 1st June 2016 is available, subject to fulfilment of specified conditions.
In order to promote the development of affordable housing sector, it is proposed to amend section 80-IBA so as to provide the following relaxations:—(i) The size of residential unit shall be measured by taking into account thecarpet area as defined in Real Estate (Regulation and Development) Act, 2016 and not built-up area
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