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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

Answer ID : 83822

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