80 ib 10

This query is : Resolved

Yash Dave (Querist)
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06 February 2012 BUILDER HAVING EXEMPTION U/S 80IB (10)FOR RESIDENTIAL COMPLEX WHICH IS EXPIRED ON 31.12.09
THE BOOKS OF A/C MAINTAINED AS PER WORKING PROGRESS & ACCORDINGLY AS ON 31.03.2010 IN
THE BALANCESHEET UNSOLD FLAT (FINISHED) VALUE OF RS 50 LAKH ARE SHOWN NOW IF THE SAID
UNSOLD FLAT ARE SOLD SUBSEQUENLY IN THE YEAR 31-03-2011 & 31-03-2012 THE PROFIT EARNED
ON THE UNSOLD FLAT ARE ENTILED FOR EXEMPTION OR NOT PL EXPLAIN ME BRIEFLY

REGARDS&THANKS
YAGNESH DAVE

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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06 February 2012 THE MATTER OF EXPIRY COULD NOT BE UNDERSTOOD BY ME- WHETHER THE PROVISION OR BUILDER ?
NOT CLEAR .
.
PLEASE ALSO PROVIDE THE APPROVAL DATE.

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