Answers On Topic: section 80IBA deduction
We have Filed IT return for FY 2021-22 with deduction u/s 80IBA. and no option to file 10CCB was available that time as well. Now, Notice received saying you claimed deduction u/s 80IB and not filed for 10CCB. so not allowed for deduction. what action to tackle on this?
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As per provisions of Sec. 80IBA, the maximum value of the house to be constructed for being eligible for deduction under this section for projects approved after 1.09.2019 shall be restricted to Rs. 45 lakhs as per Stamp duty Rates. Does this means developers can sale the units for any consideration more than 45 lakhs also till the stamp duty valuation is 45 lakhs. ? Whether tolarance limit of 10% as given in Sec. 43CA and 50C is applicable while considering stamp duty rates of the residential units for claiming deduction U/Sec.80IBA ? pl guide .
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In case of Builders 100% deduction is allowable under section 80IBA. Is there any form to be uploded duly certified by CA like form 10CCB? To the best of my knowledge no such form is prescibed. However in the faceless scrutiny the department is asking for above form
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Notice for Non-deduction of 80IB for non-filing form 10CCB