https://www.taxtmi.com/acts?id=46528 A new provision applies to buildings completed after 31 March 1978, allowing for a five-year reduction of income from such buildings by an aggregate sum: (i) the full annual value for units whose annual value does not exceed Rs. 2,400, and (ii) a fixed amount of Rs. 2,400 for units whose annual value exceeds Rs. 2,400; additionally, income in respect of any residential unit under the relevant clauses is in no case to be a loss. The amendment also restricts the earlier clause to buildings completed after 31 March 1970 but before 1 April 1978. en-us Sat, 21 Dec 2024 13:53:45 +0530 Sat, 21 Dec 2024 13:53:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46528 A new provision applies to buildings completed after 31 March 1978, allowing for a five-year reduction of income from such buildings by an aggregate sum: (i) the full annual value for units whose annual value does not exceed Rs. 2,400, and (ii) a fixed amount of Rs. 2,400 for units whose annual value exceeds Rs. 2,400; additionally, income in respect of any residential unit under the relevant clauses is in no case to be a loss. The amendment also restricts the earlier clause to buildings completed after 31 March 1970 but before 1 April 1978. Act-Rules F. Acts / Amendment Acts Sat, 21 Dec 2024 13:53:45 +0530 https://www.taxtmi.com/acts?id=46528