Deduction for housing projects grants full tax relief for profits from qualifying residential developments subject to approval and completion rules. A tax provision permits a full deduction for profits from developing and building qualifying housing projects subject to conditions: approval within a ... Summary
Deduction for housing projects grants full tax relief for profits from qualifying residential developments subject to approval and completion rules.
A tax provision permits a full deduction for profits from developing and building qualifying housing projects subject to conditions: approval within a specified window and completion within three years, limits on commercial built-up area, minimum plot-size and single-project requirement, residential unit size caps, floor area ratio utilisation thresholds, prohibition of works-contract execution, separate books of account, and recapture of deductions if the project is not completed within the prescribed period.
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