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Section 139(4b)

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2013 Under this section, it is mentioned that exemption under section 13A is subject to the condition that the return u/s 139(1) is filed within due date.


My query is, while filing the return u/s 139(1), showing the taxable income , wont the amount allowed as deduction be shown in the return ?
Can you please interpret this.?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
23 August 2013 The amount allowable as deduction has to be shown in the return.
.
Subsection (4B) can be better interpreted in the following manner-

1. The return filing is compulsory U/s 139(1) if you want to take the benefit of Section 13A.
.
2. The return filing is compulsory U/s 139(1)- when before claiming the Deduction U/s 13A, the Income is taxable.
.
3. So, if you file the return U/s 139(1) you are eligible to claim the deduction
, otherwise no deduction can be claimed.
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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2013 Thanks a million.
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