Whether deduction allowed u/s 80ic on late filling of itr
This query is : Resolved
CA UMESH DULAL
(Querist)
06 August 2011
The assessee is eligible for deduction u/s 80IC of IT Act. But the assessee had filed the ITR after the due date. Now the case has come under the scrutiny by CASS.
Is is still eligible for exemption u/s 80IC of the respective AY or not.
plz also quote case law if possible.
Is is still eligible for exemption u/s 80IC of the respective AY or not.
plz also quote case law if possible.
U S Sharma
(Expert)
06 August 2011
what is CASS?
CA UMESH DULAL
(Querist)
06 August 2011
the case is taken on scrutiny by computer software.
Aditya Maheshwari
(Expert)
06 August 2011
One of the condition to claim deduction is filing of return in time. If the same has not been done then deduction not allowable.
CA UMESH DULAL
(Querist)
06 August 2011
This one of the precondition for aviling deduction u/s 80IC.
Can AO condone the delay in filling of return?
Can AO condone the delay in filling of return?
07 August 2011
AO has no power to condone the delay in filing the IT return.
If return is belated, deduction under section 80-IC can't be allowed ,from assessment year 2006-07 on wards ,vide section 80C of the Income tax Act,1961.
If return is belated, deduction under section 80-IC can't be allowed ,from assessment year 2006-07 on wards ,vide section 80C of the Income tax Act,1961.
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