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Allowability of claim u/s 10.26.AAB

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(Querist)
08 December 2024 Whether the claim u/s 10.26.AAB by an APMC can be denied in case of belated filing of Return? For AY the AOMC has filed the Return on 06.10.2018. While processing the Return the claim was not allowed by CPC
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
09 December 2024 As per sec. 80 AC...
"No such deduction (any deduction admissible under any provision of this chapter under the heading “C- Deductions in respect of certain income) shall be allowed to him unless he furnishes a return of his income for such assessment year on or before the due date specified under sub section [1] of section 139. wef 01/04/2018"

But it is not applicable over exempt income. So, the exemption u/s. 10(26AAB) cannot be denied for belated return.
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