CBDT Authorizes Condonation of Delay for Co-op Societies Filing Income Tax Returns under Section 80P
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- Last Updated on 28 July, 2023
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Circular No 13/2023, Dated 26-07-2023
The Central Board of Direct Taxes (CBDT) received applications from cooperative societies claiming deductions under section 80P for AY 2018-19 to AY 2022-23. They seek condonation of delay in filing income tax returns caused by delays in getting their accounts audited under state laws. The request is to treat the returns as filed within the due date.
To mitigate genuine hardship, the CBDT has authorized the Chief Commissioners of Income-tax (CCsIT)/Directors General of Income-tax (DGsIT) to deal with such applications of condonation of delay pending before the Board.
The CCsIT/DGsIT shall admit all pending as well as new applications for condonation of delay in furnishing returns of income claiming deduction u/s 80P. for the assessment years 2019-19 to 2022-23 and decide such applications on merits in accordance with the law where such person is required to get his accounts audited under respective State Laws.
Click Here To Read The Full Circular
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