| Question And Answer | |
|---|---|
| Subject: | Deduction u/s 80IBA for an individual land owner against business income in revenue sharing JV for affordable housing projects. |
| Category: | Income-Tax |
| Querist: | Dharamchand Parakh |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Deduction 80IBA, JV, S.800IBA |
| Date: | July 29, 2023 |
Whether an individual tax payer can claim deduction u/s 80IBA against his share of business income in a revenue sharing JV for affordable housing projects? If yes, conditions required to be fulfilled.and any case laws on the same.
It is advisable for the JV to claim the deduction under section 80IBA of the Act. However, if all the other conditions are satisfied, the individual assessee who claims a share in revenue should be allowed a deduction under section 80IBA of the Act
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