the time period for which deduction under section 80IB(10) is allowed.
1 Replies
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 02 July 2009
Ms.Chaya Maheswari
In sub-section (1) of section 80IB it has been clarified that deduction under this section is--------------such percentage and for such for such number of years.
In sub-sectin (10) of the section it has been clarified that the deduction is 100% of the profits derived for such housing project. That means the profits derived from the housing project may be spread over a number of years.
Hope you have got the clarification.
Best Wishes
Sathikonda
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