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Tax incentive for affordable housing

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Full Text of the Document

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.... a deduction in respect of interest up to one lakh fifty thousand rupees on loan taken for residential house property from any financial institution subject to the following conditions: (i) loan has been sanctioned by a financial institution during the period beginning on the 1st April, 2019 to 31st March 2020. (ii) the stamp duty value of house property does not exceed forty-five lakh rupees;....

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Full Text of the Document

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....hundred per cent of the profits and gains derived from such business. With a view to align the definition of "affordable housing" under section 80-IBA with the definition under GST Act, it is proposed to amend the said section so as to modify certain conditions regarding the housing project approved on or after 1st day of September, 2019. The modified conditions are as under: (i) the ....

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