Deduction specified under Chapter VIA (Part C) not to be allowed unless return furnished - Income Tax - Ready Reckoner - Income Tax

Deduction specified under Chapter VIA (Part C) not to be allowed unless return furnished Where in computing the total income of an assessee of the previous year relevant to the assessment year commencing on the 1st day of April, 2006 or any subsequent assessment year, any deduction is admissible under section 80-IA or section 80-IAB or section 80-IB or section 80-IC or section 80-ID or section 80-IE , no such deduction shall be allowed to him unless he furnishes a return of his income for such assessment year on or before the due date specified under sub-section 139(1) . [ The section 80AC shall be substituted w.e.f. 01.04.2018 from the Section 25 of Finance Act, 2018 ] Where in computing the total income of an assessee of any previous year relevant to the assessment year commencing on or after (i) the 1st day of April, 2006 but before the 1st day of April, 2018, any deduction is admissible under section 80-IA or section 80-IAB or section 80-IB or section 80-IC or section 80-ID or section 80-IE; (ii) the 1st day of April, 2018, any deduction is admissible under any provision of this Chapter under the heading C.-Deductions in respect of certain incomes , no such deduction shall be allowed to him unless he furnishes a return of his income for such assessment year on or before the due date specified under section 139(1). Important Notifications circulars Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 for returns of income claiming deduction u/s 80P of the Act for various assessment years from AY 2018-19 to AY 2022-23 . [ Circular No. 13/2023 Dated 26.07.2023 ] Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 for returns of income claiming deduction u/s 80P of the Act for various assessment years of 2023-24. [ Circular No. 14/2024 Dated 30.10.2024 ]