Deduction for housing project profits: full tax deduction allowed subject to approval, completion, and compliance conditions. The provision allows a hundred per cent. deduction of profits and gains from eligible housing projects subject to conditions including approved project status by the competent authority within the prescribed window, completion within a specified period from approval, limits on commercial area and unit sizes, minimum plot size, floor area ratio utilisation thresholds, single-unit allotment restrictions, separate project accounting, and specified definitions for built-up area, floor area ratio and residential unit. Deductions are excluded for works-contract executors and are recaptured if projects are not completed within the prescribed period; claimed profits cannot be deducted under other provisions for the same year.