3.Sec80-IB(10) Relaxation of Condition for Housing Project approved ONLY on or after1.4.2005
*Earlier, max allowed built-up area for shop/commercial establishment included in housing project was 5%of total built-up area or 2000Sqft whichever is LOWER.
But Now 3%or 5000sqft whichever is HIGHER
*Time limit of completion of Housing Project, now extended from 4yrs to5yrs
[This is an eligible deduction of 100%of profit from such project which are approvd before31.3.2008]
*Earlier, max allowed built-up area for shop/commercial establishment included in housing project was 5%of total built-up area or 2000Sqft whichever is LOWER.
But Now 3%or 5000sqft whichever is HIGHER
*Time limit of completion of Housing Project, now extended from 4yrs to5yrs
[This is an eligible deduction of 100%of profit from such project which are approvd before31.3.2008]
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