Deduction u/s 80P(2)(a)(i) of the IT Act

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Chandra Kala (Querist)
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14 September 2023 Cooperative society which are subject to audit as per Cooperative Act can submit return after 31/07/2023 to claim deduction u/s 80P(2)(a)(i) of the IT Act if Turnover is not subject to tax audit. Audit report of the cooperative Act cannot be uploaded for want of provision in IT portal.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 September 2023 Yes return can be submitted after 31st July no problem.

PARAS CHHAJED

PARAS CHHAJED (Expert)
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15 September 2023 The accounts of co-operative society are required to be audited under state Co-operative Act mandatorily and therefore the due date for submission of the return of income shall be 31st October. If there is no tax audit u/s 44AB then there is no need to upload audit report .

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