https://www.taxtmi.com/acts?id=49389 A limited deduction from profits of World Bank aided housing projects awarded on global tender is allowed for Indian companies or resident persons provided separate audited accounts are maintained and a specified portion of profits is credited to the Housing Projects Reserve Account, to be used only for business purposes over five years; premature non business use or distribution triggers recomputation of income and amendment of assessment, and such income is ineligible for any other deduction under the chapter. en-us Thu, 20 Feb 2025 17:10:00 +0530 Thu, 20 Feb 2025 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49389 A limited deduction from profits of World Bank aided housing projects awarded on global tender is allowed for Indian companies or resident persons provided separate audited accounts are maintained and a specified portion of profits is credited to the Housing Projects Reserve Account, to be used only for business purposes over five years; premature non business use or distribution triggers recomputation of income and amendment of assessment, and such income is ineligible for any other deduction under the chapter. Act-Rules F. Acts / Amendment Acts Thu, 20 Feb 2025 17:10:00 +0530 https://www.taxtmi.com/acts?id=49389