Belated filing return
Mohd. Nadeem Khan (AAO) (93 Points)
31 July 2023
can deductions under chapter VI be claimed by individual in case of belated filing
15 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 31 July 2023
No, under belated returns no deductions can be claimed
Mohd. Nadeem Khan
(AAO)
(93 Points)
Replied 31 July 2023
Is it applicable for individuals also...? or only for companies...
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 31 July 2023
For all belated returns irrespective of individuals or companies
Mohd. Nadeem Khan
(AAO)
(93 Points)
Replied 31 July 2023
So u mean to say 80 C deduction cannot be claimed
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 31 July 2023
Yes if it is a belated return
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 31 July 2023
No option if it is a belated return then deduction is not possible, for which AY you're asking about??
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 31 July 2023
Sorry, there was a mistake actually 80c can be claimed under belated returns also... Actually there was a misunderstanding there.. you can claim deduction 80C but certain deductions are not allowed which are 80IC, ID, IE, 10A etc...
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 31 July 2023
Any other opinion...??? from others...??
Chapter VI-A deductions can be avail if belated ITR... No issues...
Chapter VI-A deductions can be avail if belated ITR... No issues...
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14497 Points)
Replied 31 July 2023
The following are the disadvantages of filing a belated return:
- Interest may be applicable under sections 234A, 234B and 234C.
- A late fee will be levied under Section 234F while filing a belated return:
- Gross total income is up to Rs 2.5 lakh: No Penalty
- Gross total income is Rs 2.5 lakh – Rs 5 lakh: Rs 1,000 fee
- Gross Total income more than Rs 5 lakh: Rs 5,000 fee
- If you file a loss return after the due date, many losses, like business and capital losses, cannot be carried forward for set off in the subsequent years. However, an exception is available for losses from house property that can be carried forward even if you file your returns late.
- Deductions/ Exemptions Disallowed: Deductions/ exemptions u/s 10A, 10B, 80-IA, 80-IB, 80-IC, 80-ID and 80-IE shall not be available if you delay ITR filing. These tax-saving benefits are allowed only if the ITR is filed before the original deadline.
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