Quick Summary
CBDT issued Circular No. 13/2023 dated July 26, 2023 regardingcondonation of delay in filing returns of income claiming deduction under section 80P of the IT Act for various assessment years from AY 2018-19 to AY 2022-23. The circular is a welcome relief for taxpayers who have not yet filed their returns of income claiming deduction under section 80P. The circular provides an opportunity for taxpayers to file their returns and claim the deduction without having to pay any interest or penalty.
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FAQ :
The circular allows for the condonation of delay in filing income tax returns where a deduction under Section 80P is claimed, for assessment years 2018-19 to 2022-23.
The condonation of delay applies to assessment years 2018-19, 2019-20, 2020-21, 2021-22, and 2022-23.
Delays may have occurred due to circumstances beyond the assessee's control, particularly delays in getting accounts audited under respective State Laws.
Taxpayers can now file their returns and claim the Section 80P deduction without paying any interest or penalty for the delayed filing.
Chief Commissioners of Income-tax (CCITs) / Directors General of Income-tax (DGITs) are authorised to decide on these applications on merits.
They will consider if the delay was due to circumstances beyond control, the timing of the audit completion versus the return due date, and any indication of tax avoidance or evasion.
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