Menu
80p deduction
my client is a co op society having turnover 30lakh and in itr declared income under 44ad please let me know he is applicable for 80p deduction or not
Replies (18)
Any co op society cannot declared income under 44ad
okay its for a.y. 15-16 and 16-17 what can be done in this connection
Any communication from CPC?
Status of ITRs?
yes cpc has denied 80p
itr v
Actually both are contradictory......... individuals eligible for Sec 44AD cannot avail sec. 80p deductions... While COS eligible for deduction u/s. 80P cannot go for sec 44AD.......... now its upto you to choose either accept it or revise the return.......
@ rambhia ji in such cases what can ao do.?
it is possible to get relaxation from ao anyhow
Yes. AO can allow deduction u/s. 80P to the CO Society, if eligible......
but I have declared u/s 44ad and revised return time is over
So, you cannot do anything till any communication from department.......
I have filed 154 rectification to ao to allow me 80p should I submit any othre supporting doc
Follow up with the rectification application and take call.....
than its all upto ao
Recent Topic
- Long Term Capital Loss - Tata Capital unlisted sha
- Section 54F deduction - GST and Stamp Duty cost wh
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
- ITR-2 Schedule CG: Indexation cost ignored for lan
Related Topics
CAclubindia
