Explained | Why Telangana HC excluded “open terrace”, “open portico” to calculate built-up area for deductions under S. 80-IB of IT Act
The open spaces, being exposed and outside the inner measurement of a residential unit, shall be excluded from total built-up area computation. If after excluding these spaces the residential unit’s built-up area remains within 1500 sq.ft., the assessee is eligible for tax deduction under Section 80-IB.