Manager - Finance and Accounts
59031 Points
Joined June 2010
Hey Syam Krishna! Here’s what you need to know about Form 10BA and revising your return:
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Form 10BA is a declaration required to claim deduction under Section 80-IA (or related sections) for profits and gains from industrial undertakings or infrastructure development projects.
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If you’ve already filed and verified your Income Tax Return (ITR) without attaching or filing Form 10BA, you can still file Form 10BA later.
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However, to claim the deduction properly, you will need to file a revised return with Form 10BA attached, because the original return didn’t have that form.
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The revised return can be filed before the end of the relevant assessment year or before the completion of assessment, whichever is earlier.
So yes, you can file Form 10BA now and then file a revised ITR to include that form and claim the deduction correctly.