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February 2011

Amendment in S. 80IB(10) to be with effect from A.Y. 2005-06 onwards — Notification No. 2/2011, dated 5-1-2011.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
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42 Amendment in S. 80IB(10)
to be with effect from A.Y. 2005-06 onwards — Notification No. 2/2011, dated
5-1-2011.

The CBDT had issued a
Notification No. 67, dated
3-8-2010 wherein the a particular Slum Redevelopment Scheme contained in
Regulation 33(10) of the Development Control Regulation of Greater Mumbai, 1999
was notified as eligible scheme under aforesaid Section with effect from
3-8-2010. However the provisions of S. 80IB(10) exempting the profits apply to
such projects approved between 1-4-2004 and 31-3-2008, the earlier Notification
has been amended to apply to housing projects approved within the aforesaid
period.

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