Section 139(4b)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2013
Under this section, it is mentioned that exemption under section 13A is subject to the condition that the return u/s 139(1) is filed within due date.
My query is, while filing the return u/s 139(1), showing the taxable income , wont the amount allowed as deduction be shown in the return ?
Can you please interpret this.?
My query is, while filing the return u/s 139(1), showing the taxable income , wont the amount allowed as deduction be shown in the return ?
Can you please interpret this.?
23 August 2013
The amount allowable as deduction has to be shown in the return.
.
Subsection (4B) can be better interpreted in the following manner-
1. The return filing is compulsory U/s 139(1) if you want to take the benefit of Section 13A.
.
2. The return filing is compulsory U/s 139(1)- when before claiming the Deduction U/s 13A, the Income is taxable.
.
3. So, if you file the return U/s 139(1) you are eligible to claim the deduction
, otherwise no deduction can be claimed.
.
Subsection (4B) can be better interpreted in the following manner-
1. The return filing is compulsory U/s 139(1) if you want to take the benefit of Section 13A.
.
2. The return filing is compulsory U/s 139(1)- when before claiming the Deduction U/s 13A, the Income is taxable.
.
3. So, if you file the return U/s 139(1) you are eligible to claim the deduction
, otherwise no deduction can be claimed.
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2013
Thanks a million.
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