100% deduction announced to promoter low cost housing

To address the housing needs of all and more specifically the poor, in a time-bound manner, Shri Arun Jaitley announced 100% deduction for profits to an undertaking in housing project for flats up to 30 sq mtrs. in four metro cities and 60 sq. mtrs. in other cities, approved during June 2016 to March 2019 and completed in three years.

However, Minimum Alternate Tax (MAT) will be applicable.

Source : Equity Bulls

Keywords