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TMI Blog80ib(10) deduction availabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... We developed a project u/s 80ib(10) and availed 100% deduction till finacial year ended march 2012. However in the Financial year 2012-2013 two flats less than 1500 sq ft (ie non adjacant flats i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n two different buildings in the said 80ib(10) project) were sold to one individual. These flats were sold out of inventory, the project being 100% completed in FY 2009-2010. Clause (e) introduce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d w.e.f 01.04.2010 of section 80ib(10) restricts from 2 flats being sold to one individual or to spouse/children/representative of such individual. i n view of the above violiation of cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... use (e) whether the assessse would loose deduction for the entire project Or whether it would loose deduction only on these two flats sold to one individual OR whether the ENTIRE UNSOLD AREA as on 31- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3-2010 (since clause (e) of 80ib(10) applicable from 01.04.10) would be open for disallowance - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Whether you have got clarified in the said issue? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... If not please inform. - 80ib(10) deduction availability - Query Started By: - hubert fernandes Dated:- 18-12-2012 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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