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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

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15 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 31 July 2023

No, under belated returns no deductions can be claimed

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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

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Mohd. Nadeem Khan (AAO) (93 Points)
Replied 31 July 2023

Any other opinion...??? from others...??

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??

Mohd. Nadeem Khan (AAO) (93 Points)
Replied 31 July 2023

AY 2023-24

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...!!!") (127921 Points)
Replied 31 July 2023

Any other opinion...??? from others...??

Chapter VI-A deductions can be avail if belated ITR... No issues...

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sabyasachi mukherjee (27107 Points)
Replied 31 July 2023

Pls post details

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 31 July 2023

Pls read above

sabyasachi mukherjee (27107 Points)
Replied 31 July 2023

Fig for chapter v1

Ram Avtar Singh (Nagari Sultanpur U.P.Delhi) (14487 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.