Housing ministry seeks tax sops for affordable projects
The Ministry of housing has sought tax sops, under the section 80IB (10) of the Income Tax Act, for the developers of affordable housing projects.
A senior government official said the housing ministry has also asked for service tax exemption for private developers of the affordable housing projects.
Also, the ministry has suggested that the deduction allowed under Sec 80 IB (10), which is to be withdrawn from April 1, should be extended to affordable housing projects approved after current cutoff date of March 31, 2008.
Presently, the exemption is available under government schemes including the Jawaharlal Nehru Urban Renewal Mission, Rajiv Awas Yojna and affordable housing partnership.
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