https://www.taxtmi.com/forum/issue?id=117093 Deduction under section 80-IBA allows one hundred per cent of profits from developing and building housing projects provided conditions are met, notably that the carpet area of the residential unit comprised in the housing project does not exceed prescribed limits (sixty square metres in certain metropolitan areas or ninety square metres elsewhere). Definitions treat "housing project" as predominantly residential units and "residential unit" as an independent unit with separate facilities and direct access. The discussion suggests the deduction may be assessable by reference to individual residential units rather than requiring every unit in a project to meet the carpet-area threshold. en-us Mon, 15 Mar 2021 10:06:25 +0530 Thu, 23 Jan 2025 15:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117093 Deduction under section 80-IBA allows one hundred per cent of profits from developing and building housing projects provided conditions are met, notably that the carpet area of the residential unit comprised in the housing project does not exceed prescribed limits (sixty square metres in certain metropolitan areas or ninety square metres elsewhere). Definitions treat "housing project" as predominantly residential units and "residential unit" as an independent unit with separate facilities and direct access. The discussion suggests the deduction may be assessable by reference to individual residential units rather than requiring every unit in a project to meet the carpet-area threshold. Discussion-Forum Income Tax Mon, 15 Mar 2021 10:06:25 +0530 https://www.taxtmi.com/forum/issue?id=117093