Web1. All Co-operative Societies other than those coming under the control of Reserve bank of India are eligible for deduction under Section 80 (P) (2) (a) of the Income Tax Act 1961. … WebSep 27, 2024 · Whether the Id. C.I.T. (A) was correct in holding that the Appellant was disentitled for claiming the benefit of deduction u/s. 80P of the Act for belated filing of … crous izly contact WebNov 1, 2024 · In addition to this time limitation, Sec. 6511 (b) (2) and Regs. Sec. 301.6511 (b)- 1 (b) limit the amount of the credit or refund that a taxpayer can claim. If a taxpayer files a return and makes a claim for refund or credit within the three - year time limit, the refund or credit amount is limited to the tax paid within three years, plus the ... crous izly numero WebMar 20, 2024 · By Aparna. M - On March 20, 2024 11:14 am - 2 mins read. While a bench of appeal filed by the assessee the Rajkot bench of Income Tax Appellate Tribunal (ITAT) has held that Denying exemption under section 80P Income Tax Act 1961 merely on ground of belated filing of return is not justifiable. Section 80P of Income Tax Act 1961, states that … WebSupreme Court: New Claims need n’t be accepted by Assessing Officers when made by Assessees through a Letter, if same isn’t claimed in return filed under section 139. Goetze (India) Ltd. v. CIT [TS-21-SC-2006-O] judgment dated 24-3-2006. The assessee filed its return of income on 30-11-1195 for A.Y. 1995-96. crous izly grenoble WebSep 11, 2024 · Consequences under the Act of Late filing/ Non-filing of any of the above forms. Form No. Consequences in case of failure. 3CA/ 3CB & 3CD. S. 271B - 0.5% of Turnover or Rs. 1.50 lacs, whichever is lower ... Deduction u/s. 10A can be claimed through revised return despite proviso providing for no deduction, if return not filed within due …

WebSep 23, 2024 · The Income Tax Appellate Tribunal (ITAT) Banglore bench ruled that the exemption under section 80 P of the Income Tax Act,1961 is allowable if it is condoned … WebJan 1, 2024 · The return of the assessee was processed u/s. 143 (1) of the Act disallowing assessee’s claim of deduction u/s. 80P (2) (d) of the Act. Aggrieved by the order/ intimation dated 31/05/2024 u/s 143 (1) of the Act, the assessee filed appeal before the CIT (A). The CIT (A) dismissed the appeal of assessee on the ground that the due date for ... crous izly code tarif 98 WebJan 1, 2024 · In genuine circumstances of delay, the assessees have a remedy under section 119 (2) (b). Section 119 (2) (b) of the Income Tax Act, along with circular no 09/2015 issued on 09-06-2015, is a statutory provision for condonation of late filing of returns in circumstances when the assessees could not file their Income Tax returns on time due … WebSep 5, 2024 · Kapadia Pravin (17239 Points) Replied 05 September 2024. 80P deduction is allowable only if return filed before due date. For Co-operative Housing Societies under audit , the due date for return is 30th Sept. If return filed after 30th Sept society doesn't get 80P deduction. Online classes for CA CS CMA, Professional courses for GST, Accounts ... cervix feel like when you are pregnant WebNov 10, 2024 · 6. The ld.DR submitted that the ld.CIT (A) erred in allowing deduction claimed u/s.80P of the Act without appreciating the fact that in order to claim the … WebJul 27, 2024 · ITAT: Sec.80P deduction allowable despite claimed in belated return; Holds amendments in Sec.143(1) & Sec.80AC prospective Jul 27, 2024 Simply Register/Sign In to access the free content across the portals! crous ine WebOct 4, 2024 · ITAT, Bangalore in the case of Prathamika Krishi Pattina Sahakara Sangha Limited, Hassan vs. ITO has held that Section 80P deduction is available if the income tax return is not filed. ITAT analyzed the provision of section 80A (5). Section 80A (5) of the Income Tax Act-1961 provides that the deduction u/s 10A or 10AA. “ (5) Where the ...

WebSep 8, 2024 · Here are the consequences of filing your income tax returns late: ... Deduction under 80-IA, 80-IAB, 80-IB, 80-IC , 80-ID and 80-IE, in respect of profits and … crous jean medecin WebMar 9, 2024 · Condonation of delay in filing the returns – claim of deduction u/s 80P rejected. Appellant No.1 herein rejected the application filed under Section 119 (2) (b) but the learned single Judge has set aside the said order and has remanded the matter to respondent No.3 for re-examination of the said application pertaining to con donation of … cervix feels closed before period