# The Finance Act, 2017, Section 37: Amendment of section 80-IBA

- Act: The Finance Act, 2017
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2017/section/37/

## Text

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,— (a) | in sub-section (2),— (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).'.

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