Section 80p deduction

ITR-5 for AY 2017-18

Co operative society has Business income of Rs. 95,921.

Section 80P deduction claimed Rs. 95,921.

Due date of filing ITR was 05-08-2017

Date of filing return 07-02-2018

Can a co operative society claim deduction u/s 80P if it had filed ITR after due date of return?

Replies (7)

Yes there is no restriction on claiming deduction under section 80P. Hence it can be claimed even if return is filed after due date.

no deduction not allowed if roi is not filed within due date

@ Shivani Kudtarkar

Which section makes it mandatory to file ITR before due date to claim deduction?

Please explain...

no deduction can be claimed

As per Section 80AC of Income Tax Act, 1961.

1. According to sec 80AC, no deductions will be allowed under the heading "C - deductions in respect of certain income" if the return is not furnished within the due date. 
2. Sec 80P is one of the income contemplated under the above chapter. Hence profits linked deductions cannot be claimed if ROI is not filed within the due date. 
Please correct me if the above solution has an alternative view.

Thank you for replies.

It helped me a lot.

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