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Section 139(4b)

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Querist : Anonymous

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.?

CA PARAS BAFNA

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.

Querist : Anonymous

Querist : Anonymous (Querist)

23 August 2013 Thanks a million.

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