Section - 80-IBA - Rationalisation to promote
Affordable Housing -
According to existing provisions
100% deduction is admissible from of the profits and gains derived from
developing and building certain housing projects subject to specified
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:—
The size of residential unit will be in
terms of the "carpet area" not the "built-up area".
restriction of 30 square meters on the size of residential units shall not
apply to the place located within a distance of 25 kms from the municipal
limits of four metro cities.
(iii)The condition of period of
completion of project shall be increased from existing three years to five
The amendment will be effective
from 1st April 2018.