Clause 37 - Amendment of section 80-IBA. - Finance Bill, 2017

Amendment of section 80-IBA. 37. In section 80-IBA of the Income-tax Act [as inserted by section 44 of the Finance Act, 2016 (28 of 2016)], with effect from the 1st day of April, 2018,- (a) in sub-section (2),- (i) in clause (b), for the words three years , the words five years shall be substituted; (ii) in clauses (c) and (f), for the expression built-up area wherever they occur, the words carpet area shall be substituted; (iii) the words or within the distance, measured aerially, of twenty-five kilometres from the municipal limits of these cities wherever they occur shall be omitted; (b) in sub-section (6), for clause (a), the following clause shall be substituted, namely:- (a) carpet area shall have the same meaning as assigned to it in clause (k) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016). .