ITR PARTNERSHIP DISCRIPANCY

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This discussion addresses a common discrepancy found in Income Tax Returns (ITR) concerning Section 80P deductions for partnership firms. It clarifies that the deduction under Section 80P(2)(e) is exclusively applicable to rental income and can only be claimed by co-operative societies, not general partnership firms. Individuals receiving notices regarding this issue are advised to review their ITR filings to ensure no such ineligible deduction has been claimed.

Amol Khandagale

Amol Khandagale (Querist)
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01 September 2023 In Schedule 80P, deduction u/s 80P(2)(e) cannot be claimed on income other than rental income. please solved the query

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 September 2023 80P deduction can be claimed only by co-operative society.
Partnership firm can't claim it.

What deduction you want to claim.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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01 September 2023 Check once again filed ITR and reply you have not claimed any such deduction.

Many people are receiving such notice reply as above.

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