Affordable housing deduction now requires plot, unit size, FAR utilisation, allotment and stamp duty value compliance. Amendment to section 80-IBA conditions the affordable housing deduction for projects approved on or after 1 September 2019 (effective 1 April 2020) on minimum plot area by location, sole-project-on-plot status, capped carpet area by location, a ceiling on stamp duty value per unit, single-unit allotment per individual (including spouse and minor children), specified minimum utilisation of permissible floor area ratio by location, and maintenance of separate books of account; it also defines stamp duty value as the value adopted or assessable by a central or state authority for stamp duty purposes.
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Affordable housing deduction now requires plot, unit size, FAR utilisation, allotment and stamp duty value compliance.
Amendment to section 80-IBA conditions the affordable housing deduction for projects approved on or after 1 September 2019 (effective 1 April 2020) on minimum plot area by location, sole-project-on-plot status, capped carpet area by location, a ceiling on stamp duty value per unit, single-unit allotment per individual (including spouse and minor children), specified minimum utilisation of permissible floor area ratio by location, and maintenance of separate books of account; it also defines stamp duty value as the value adopted or assessable by a central or state authority for stamp duty purposes.
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