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80P Deduction for Cooperative societies

628 views 5 replies

R.Venkadesh

Article Assistant

165 Points Joined October 2016

A co operative society having turnover less than 1crore which has its due date filing 31st December.
Unfortunately the statutory audit completed on 28th Jan 2022. Is this society is eligible to claim 80P deduction.

Replies (5)

Eswar Reddy S

CFO- at NHTF

58280 Points Joined August 2012

Yes.Eligible with late fee if any for late filing

rama krishnan

12244 Points Joined May 2017

80P deductions are allowed only if the return of income is filed on or before the due date under section 139(1) of the act as per section 80AC

Chetz Rao

114 Points Joined February 2021

If you are liable to audit under any act then your due date to file ITR under 139(1) will be 15/03/2022,So you are liable to claim deduction under 80P

sabyasachi mukherjee

28118 Points Joined May 2017

Deductions are eligible if filed before due date of return.
He may not be allowed to claim deduction.

debora M

BUSINESS DEVELOPMENT MANAGER

1697 Points Joined February 2019

Deductions under Section 80P Under this section, a certain specified income of a co-operative society engaged in specific activities is considered as a deduction if such income is included in the gross total income of the society.