Benefits of Chapter VIA Deductions only allowable now if Return filed within Deadlines of 139(1)
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Join our Email NewsletterBy CA Ankit Gulgulia (Jain)
All Chapter VIA – Heading C Deduction shall now be allowable only if the assessee has duly filed the returns on or before the Due Dates Prescribed under Section 139(1). Note that Chapter VIA heading C Includes following Sections. Note Deduction under Section 80C not covered and deduction will comtinue to be eligible even if filed after due dates.
| Section 80H | : | Deduction in case of new industrial undertakings employing displaced persons, etc. |
| Section 80HH | : | Deduction in respect of profits and gains from newly established industrial undertakings or hotel business in backward areas |
| Section 80HHA | : | Deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas |
| Section 80HHB | : | Deduction in respect of profits and gains from projects outside India |
| Section 80HHBA | : | Deduction in respect of profits and gains from housing projects in certain cases |
| Section 80HHC | : | Deduction in respect of profits retained for export business |
| Section 80HHD | : | Deduction in respect of earnings in convertible foreign exchange |
| Section 80HHE | : | Deduction in respect of profits from export of computer software, etc. |
| Section 80HHF | : | Deduction in respect of profits and gains from export or transfer of film software, etc. |
| Section 80I | : | Deduction in respect of profits and gains from industrial undertakings after a certain date, etc. |
| Section 80IA | : | Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc. |
| Section 80IAB | : | Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone |
| Section 80IAC | : | Special provision in respect of specified business. |
| Section 80IB | : | Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings |
| Section 80IBA | : | Deductions in respect of profits and gains from housing projects. |
| Section 80IC | : | Special provisions in respect of certain undertakings or enterprises in certain special category States |
| Section 80ID | : | Deduction in respect of profits and gains from business of hotels and convention centres in specified area |
| Section 80IE | : | Special provisions in respect of certain undertakings in North-Eastern States |
| Section 80JJA | : | Deduction in respect of profits and gains from business of collecting and processing of bio-degradable waste |
| Section 80JJAA | : | Deduction in respect of employment of new employees |
| Section 80LA | : | Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre |
| Section 80O | : | Deduction in respect of royalties, etc., from certain foreign enterprises |
| Section 80P | : | Deduction in respect of income of co-operative societies |
| Section 80Q | : | Deduction in respect of profits and gains from the business of publication of books |
| Section 80QQA | : | Deduction in respect of professional income of authors of text books in Indian languages |
| Section 80QQB | : | Deduction in respect of royalty income, etc., of authors of certain books other than text-books |
| Section 80R | : | Deduction in respect of remuneration from certain foreign sources in the case of professors, teachers, etc. |
| Section 80RR | : | Deduction in respect of professional income from foreign sources in certain cases |
| Section 80RRA | : | Deduction in respect of remuneration received for services rendered outside India |
| Section 80RRB | : | Deduction in respect of royalty on patents |
’80AC. Where in computing the total income of an assessee of any previous year relevant to the assessment year commencing on or after
(1) the 1st day of April, 2006 but before the 1st day of April, 2018, any deduction is admissible furnished 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 sub-section ( 1) of section 139.’.
Related Tags Budget2018, Incometax
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