Deduction u/s 80e

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CA Prabhat Kumar Makhija (Querist)
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03 February 2012 A person has been paying his education loan interst & principal amount since three years after getting the job, but he forgot to claim deduction u/s 80E in two A/Y i.e. A/Y 2009-10, 2010-11.
Now my question is whether he claim deduction u/s 80E of amount paid of earlier years i. e. A/Y 2009-10 & 2010-11 while filing his ITR of A/Y 2011-12.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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03 February 2012 U/S 80E deduction eligible on the payment basis of interest on the education loan.
According to the above provision interest on education loan eligible to get deduction in the previous year on which year the actual payment made. Thus your are not eligible to get deduction of payments made in the preceding years for the current year. So your are not eligible to get the deduction eligibility of 80E for the A.Y.2009-10 and 2010-11 in the A.Y.2011-12.
OM SAI SRI SAI JAI JAI SAI

CA Prabhat Kumar Makhija

CA Prabhat Kumar Makhija (Querist)
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06 February 2012 Can i revised the return of A/Y 2010-11 before 31st march, 2012 & claim deduction?

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Asha Kanta Sharma

Asha Kanta Sharma

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20 July 2024 No, unfortunately, you cannot revise the income tax return (ITR) for Assessment Year (A/Y) 2010-11 anymore. As per the Income Tax Act, 1961, the time limit to file a revised return for any assessment year is generally within one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

For A/Y 2010-11, the due date for filing the original return was likely in July or October 2010, depending on whether it was filed electronically or manually. The window for revising that return would have closed accordingly.

### Time Limits for Revised Returns:
- **Original Due Date:** If the original return was filed on time, you typically have up to one year from the end of the relevant assessment year to file a revised return.
- **Assessment Completion:** Alternatively, if the assessment for that year has been completed by the Income Tax Department, you cannot revise the return after that point.

Since A/Y 2010-11 is now several years past, the opportunity to revise the return and claim any additional deductions or make corrections has lapsed.

### Practical Steps:
If there were deductions or credits that you were eligible for in A/Y 2010-11 but did not claim, unfortunately, you cannot rectify this through a revised return now. However, you can ensure to claim eligible deductions and credits in your future tax filings to optimize your tax liability.

It's always advisable to file your tax returns on time and accurately each year to avoid missing out on deductions and benefits that you're entitled to under the Income Tax Act. If you have any specific concerns or need further clarification regarding your taxes, consulting with a tax professional or chartered accountant would be beneficial.