Budget ‘10 : Relief to Housing Projects & Hotel / Convention Centre

1 March 2010

Relief to Housing Projects

100% deduction on profits from a housing project is available if the project is completed within 4 years from the end of the financial year in which approval from local authority is obtained. This period is proposed to be increased to 5 years.

Further, the current norm for maximum build area for 

each unit is enhanced from 5% of total build up area or 

2,000 sq ft to 3% of total built-up area or 5,000 sq ft,

whichever is higher. This will be effective from Ay 2010-11 onwards

Relief to Hotel / Convention Centre pending 

for completion in National Capital Territory

Deduction to a Hotel / convention centre in National Capital 

Territory is available if it starts functioning on or before 

March 31, 2010. In light of the fact that the Commonwealth 

Games shall be held in October 2010, it is proposed that 

thededuction shall be available even if the hotel / convention centre 

starts functioning before July 31, 2010.

Deductor and collector will continue to issue TDS/TCS certificate

even after April 1, 2010.