Deduction u/s 80P

This discussion addresses whether a milk-producing cooperative society can claim a deduction under Section 80P if they file their Income Tax Return (ITR-5) for AY 2019-20 after the original due date. According to Section 80AC, such deductions are generally not available if the return is filed late. However, the possibility of applying for condonation of the delay is mentioned, along with considerations regarding applicable taxes and potential options for the cooperative society.