banner_ad

80P Deduction for Cooperative societies

Others 696 views 5 replies
User Avatar

Article Assistant
165 Points Posted on 09 February 2022
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.
0 Reply Share Follow
On 09 February 2022 at 06:14 Report
Replies (5)
User Avatar

CFO- at NHTF
58280 Points Posted on 09 February 2022
Yes.Eligible with late fee if any for late filing
1 Reply
On 09 February 2022 at 07:23
User Avatar

12244 Points Posted on 09 February 2022
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
1 Reply
On 09 February 2022 at 16:46
User Avatar

114 Points Posted on 09 February 2022

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

 

1 Reply
On 09 February 2022 at 16:59
User Avatar

Profession Business
28207 Points Posted on 10 February 2022
Deductions are eligible if filed before due date of return.
He may not be allowed to claim deduction.
1 Reply
On 10 February 2022 at 07:13
User Avatar

BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 10 February 2022
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.
Reply
On 10 February 2022 at 12:21


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details