Deductions in respect of profits and gains from housing projects - Section 80-IBA

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... hall be allowed a deduction 100% of the profits and gains from such business. * Housing project shall be a project which fulfils the following conditions:- * the project is approved by the competent authority after 01.06.2016, but on or before 31.03. 2022. * the project is completed within a period of 5 years from the date of approval. * the built up area of the commercial establishments i .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 3. This section does not apply to an assessee who executes the housing project as a works-contract awarded by any person (including the Central Government or the State Government) 4. If the project is not completed within the period specified then deduction claimed shall Profits and gains of business or profession of the previous year in which the period for completion so expires. 5. Deduction .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X