Deduction for rental housing projects expanded to include notified rental projects and extended approval window. A new sub-section grants a hundred per cent. deduction for profits from developing and building rental housing projects. The approval window in sub-section (2)(a) is extended to projects approved on or before 31st March, 2022. Clause (da) in sub-section (6) defines 'rental housing project' as a Central Government notified project meeting specified conditions. The amendments take effect from 1st April, 2022 and apply to the corresponding assessment year and thereafter.
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Deduction for rental housing projects expanded to include notified rental projects and extended approval window.
A new sub-section grants a hundred per cent. deduction for profits from developing and building rental housing projects. The approval window in sub-section (2)(a) is extended to projects approved on or before 31st March, 2022. Clause (da) in sub-section (6) defines "rental housing project" as a Central Government notified project meeting specified conditions. The amendments take effect from 1st April, 2022 and apply to the corresponding assessment year and thereafter.
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