Clarification regarding deduction under section 80-IB(10) in respect of undertakings developing building and housing projects

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Full Text of the Document

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....ection 80-IB an undertaking developing and building housing projects is allowed a deduction of 100% of its profits derived from such projects if it commenced the project on or after 1.10.1998 and completes the construction within four years from the financial year in which the housing project is approved by the local authority. 2. Clarifications have been sought by various CCsIT on the issue whet....