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of <h1>Finance Bill 2021 Raises Safe Harbour Limit to 20% u/s 43CA to Boost Real Estate Market Demand.</h1> The Finance Bill 2021 proposes increasing the safe harbour limit from 10% to 20% for home buyers and real estate developers under Section 43CA. This change aims to boost real estate demand by allowing developers to sell unsold inventory at lower rates. The conditions for this increase include transfers between November 12, 2020, and June 30, 2021, first-time allotments, and transactions not exceeding two crore rupees. Additionally, Section 56 is amended to provide buyers relief by considering the circle rate as the sale/purchase consideration only if the difference exceeds 20%. These amendments apply from April 1, 2021, for the 2021-22 assessment year onward.
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