Wrong status in itr-5

This query is : Resolved

Nehal jain (Querist)
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29 November 2013
Dear Expert,

1.Status wrongly mentioned in ITR-5,as AOP/BOI instead of cooperative society.
What are the consequences?

2. Can i claim deduction under sec 80p?
and what are the consequences for the above two cases.

3. what is the process for making correction of ITR-5 for mentioning the wrong status.

Thanks & Regards

R. NEHAL SHAH

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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29 November 2013 Deduction U/s 80P is allowed to only co-operative Societies and not to an AOP.
.
Revise the return by changing the status.
Rectification as such is not possible.
.
In case your software does not accept the change in status, you may fill up the revised return details by selecting the mode applicable to co-operative Society. You may have to fill up all the details on the basis of Original Return.
.

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Nehal jain

Nehal jain (Querist)
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29 November 2013 Dear Expert

can i claim exemption as well as deduction which are available under coperative society, while filling a revised returns for amking a correction of WRONG STATUS MENTIONED IN THE ORGINAL RETURN.

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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29 November 2013 Definitely, you can do so.
.

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Nehal jain

Nehal jain (Querist)
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29 November 2013 Thanx a lot sir,

So its clear, while filling the revised return (wrong status mentioned in ITR-5 as AOP/BOI)can change the status and can claim exemption and deduction under coperative societies.