80P deduction is eligible after due date of filling for AY 2018-19

For AY 2018-19, regarding Section 80P deduction eligibility after the due date of filing:

Key points:

• Section 80P provides deduction for income of cooperative societies like credit societies, agricultural societies, etc.

• Deduction under 80P is allowed only if the return of income is filed within the due date prescribed under Section 139(1), i.e., usually 31st July of the assessment year (unless extended).

If the return is filed after the due date (i.e., a belated return):

• The taxpayer cannot claim deduction under Section 80P for that assessment year.

• This is because deductions under many sections like 80P, 80GGA, etc., require timely filing to be eligible.

Summary:

• For AY 2018-19, if the assessee did not file the ITR by the due date (31st July 2018) and filed a belated return later, 80P deduction will be disallowed.

• It is important to file the return within the due date to claim 80P deduction.