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of <h1>Finance Bill 2021 amends Section 80-IBA, extending 100% tax deduction for affordable rental housing projects to March 2022.</h1> The Finance Bill 2021 proposes amendments to section 80-IBA to incentivize affordable rental housing. It allows a 100% deduction on profits from developing affordable housing projects, initially requiring approval between June 1, 2016, and March 31, 2021. To support migrant laborers, the deduction will now extend to government-notified rental housing projects meeting specified conditions. Additionally, the approval deadline for these projects is extended to March 31, 2022. These changes will be effective from April 1, 2022, applicable to the assessment year 2022-23 onwards.
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