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of <h1>Finance Bill 2019 amends Section 80-IBA: New tax deduction rules for housing projects effective April 2020.</h1> Clause 26 of the Finance (No. 2) Bill, 2019 amends section 80-IBA of the Income-tax Act, effective April 1, 2020. It introduces new conditions for housing projects approved on or after September 1, 2019, to qualify for tax deductions. Key criteria include project land size, carpet area limits (60 square meters in specified metropolitan areas and 90 square meters elsewhere), and a maximum stamp duty value of 45 lakh rupees per residential unit. The amendment also defines 'stamp duty value' for clarity. These changes apply from the assessment year 2020-2021 onwards.
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