https://www.taxtmi.com/acts?id=4307 Deduction is available for profits from World Bank aided housing projects awarded on global tender to resident persons and Indian companies, subject to phased percentage limits and strict conditions: separate project accounts (audited where applicable) with the audit report filed; a portion of profits debited to profit and loss and credited to a Housing Projects Reserve Account for business use other than distribution for five years; limitation of deduction to amounts actually credited; recomputation and amendment if reserve amounts are wrongfully utilised; exclusivity from other deductions under the relevant Chapter. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 05 Jun 2025 14:08:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4307 Deduction is available for profits from World Bank aided housing projects awarded on global tender to resident persons and Indian companies, subject to phased percentage limits and strict conditions: separate project accounts (audited where applicable) with the audit report filed; a portion of profits debited to profit and loss and credited to a Housing Projects Reserve Account for business use other than distribution for five years; limitation of deduction to amounts actually credited; recomputation and amendment if reserve amounts are wrongfully utilised; exclusivity from other deductions under the relevant Chapter. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4307