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of <h1>Tax Breaks for Residential Developers: 100% Profit Deduction Under Section 80IBA for Qualifying Housing Projects</h1> Section 80IBA provides tax deductions for housing project developers. The provision allows a 100% deduction on profits from developing residential projects meeting specific conditions, including project approval between June 2016 and March 2022, completion within five years, limited commercial area, minimum land size, residential unit size restrictions, and floor area ratio utilization. Projects must be the sole development on a plot, with no repeat allotments to same individuals. The deduction is not applicable to works contracts and cannot be claimed under other tax provisions. Separate accounting for the housing project is mandatory.
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