Amendment of section 80-IBA.
37. In section 80-IBA of the Income-tax Act [as inserted by section 44 of the Finance Act, 2016 (28 of 2016)], with effect from the 1st day of April, 2018,—
| (i) | |
in clause (b), for the words "three years", the words "five years" shall be substituted; |
| (ii) | |
in clauses (c) and (f), for the expression "built-up area" wherever they occur, the words "carpet area" shall be substituted; |
| (iii) | |
the words "or within the distance, measured aerially, of twenty-five kilometres from the municipal limits of these cities" wherever they occur shall be omitted; |
| (b) | |
in sub-section (6), for clause (a), the following clause shall be substituted, namely:— |
| '(a) | |
"carpet area" shall have the same meaning as assigned to it in clause (k) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016).'. |