ITR V FILING OF HOUSING SOCIETY
This query is : Resolved
30 July 2023
status selected AOP for Housing society .
shown Interest income in Other sources. system is not accepting deduction u/s. 80 P.
But in computation, showing tax payable as nil due to AMT section 115c.
whether I should upload the return.
shown Interest income in Other sources. system is not accepting deduction u/s. 80 P.
But in computation, showing tax payable as nil due to AMT section 115c.
whether I should upload the return.
30 July 2023
No, you are not eligible for 115c.
These deductions are provided in the Income Tax Act, 1961, under Chapter VI-A under the heading ‘C. – Deductions in respect of certain incomes’.
Under this claim 80p deduction.
These deductions are provided in the Income Tax Act, 1961, under Chapter VI-A under the heading ‘C. – Deductions in respect of certain incomes’.
Under this claim 80p deduction.
31 July 2023
If the Housing Society is registered under Co- Operative Societies Act, they have to select Status as 'Co Op Society' for income tax return filing ( PAN should have taken on that capacity). If so, the society is eligible to Claim 80 P (c) or (d) depending on the nature of the investee.
Again, if the society satisfies the above observations, they are eligible to deduct the amount claimed u/s 80P (c) for the purpose of AMT {section 115JC (2)(i)}.
Please review what you have done with the above observation , then think about return uploading.
Again, if the society satisfies the above observations, they are eligible to deduct the amount claimed u/s 80P (c) for the purpose of AMT {section 115JC (2)(i)}.
Please review what you have done with the above observation , then think about return uploading.
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