Question ID :
44369
Deduction under Sec 80P
A cooperative Milk society with turnover less than 1 crore is not required to get Tax audit done but files ITR after 31-7-22
Whether it will lose deduction under sec 80P and will have to pay tax on income
Posted by
Mahesh Kumar
on
Sep 13, 2022
Filed Under
DIRECT TAXES
refer 80AC
Posted by
t sankar on
Sep 19, 2022
Answer ID :
83828
Yes. As per the provisions of section 80AC deduction cannot be claimed if the return is not filled on or before the due date.
Posted by
CA. JHA SHANKAR KUMAR on
Sep 19, 2022