Question ID :
40647
CLAIMING DEDUCTION IN REVISED RETURN
ABC is a cooperative society which is subject to audit under Cooperative Societies Act, 1964. It has filed NIL IT Return for FY 2018-19 on 04/10/2019 and later filed the revised return on 1/12/2019 with all the income details and claimed deduction u/s 80P.
Please let me know the validity of above practice & can the society claim deduction ? As for the purpose of claiming deduction, IT return has to be filed with in the due date.
Please let me know at the earliest...
Posted by
Gogisetti Sivaji Ganesh
on
May 08, 2020
Filed Under
DIRECT TAXES
Yes, you can claim deductions in revised return.
Posted by
CA. SATISH CHAND GARG on
May 08, 2020
Answer ID :
80516
Yes. It can be claimed in revised return. Many judicial decisions supports this view.
Posted by
CA. chunauti dholakia on
May 08, 2020