Deductibility of subscriptions to specified housing deposit schemes expanded, subject to notification and interest exclusion rules. Amendment adds deduction eligibility for subscriptions to deposit schemes of public sector long term housing finance companies and of authorities constituted for housing or urban/rural planning or development, subject to exclusion where deposit interest already qualifies for a separate interest exclusion and subject to Central Government notification; it also removes a prior construction completion timing requirement and a related sub clause from the existing provision.
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Provisions expressly mentioned in the judgment/order text.
Deductibility of subscriptions to specified housing deposit schemes expanded, subject to notification and interest exclusion rules.
Amendment adds deduction eligibility for subscriptions to deposit schemes of public sector long term housing finance companies and of authorities constituted for housing or urban/rural planning or development, subject to exclusion where deposit interest already qualifies for a separate interest exclusion and subject to Central Government notification; it also removes a prior construction completion timing requirement and a related sub clause from the existing provision.
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