![Page 1: Welcome to the UDZ TAX INCENTIVE CONFERENCE Day 1 – 18 Aug 05](https://reader035.vdocument.in/reader035/viewer/2022072014/56812d9c550346895d92babd/html5/thumbnails/1.jpg)
Welcome to the
UDZ TAX INCENTIVE CONFERENCE
Day 1 – 18 Aug 05
![Page 2: Welcome to the UDZ TAX INCENTIVE CONFERENCE Day 1 – 18 Aug 05](https://reader035.vdocument.in/reader035/viewer/2022072014/56812d9c550346895d92babd/html5/thumbnails/2.jpg)
URBAN DEVELOPMENT ZONE
TAXATION ALLOWANCES
S 13quat
![Page 3: Welcome to the UDZ TAX INCENTIVE CONFERENCE Day 1 – 18 Aug 05](https://reader035.vdocument.in/reader035/viewer/2022072014/56812d9c550346895d92babd/html5/thumbnails/3.jpg)
Urban development allowances • Apply to both new construction and
refurbishment of existing residential/commercial structures after date of notice demarcating zone
• Applies to owners who build/refurbish for own occupation or rental – not developers.– Requires certificates of occupancy and of
locality subject to stringent qualifications• No recapture of allowance if qualifying
use terminates within 10 years
![Page 4: Welcome to the UDZ TAX INCENTIVE CONFERENCE Day 1 – 18 Aug 05](https://reader035.vdocument.in/reader035/viewer/2022072014/56812d9c550346895d92babd/html5/thumbnails/4.jpg)
Urban development allowances
• Erection of new / extension of old buildings– 20% of cost in year of first use– 5% p.a. for 16 years
• Improvement of old bldgs (including incidental additions) if original fabric or exterior is preserved– 20% p.a. commencing in year of first use for
five years
![Page 5: Welcome to the UDZ TAX INCENTIVE CONFERENCE Day 1 – 18 Aug 05](https://reader035.vdocument.in/reader035/viewer/2022072014/56812d9c550346895d92babd/html5/thumbnails/5.jpg)
Urban development allowances – ‘cost’
Includes
• demolition,excavation,
• Adjoining structures for water, power, parking,drainage,security,waste disposal, access (including frontage)