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union budget 2018

No Deduction u/s 80 AC is admissible if return is not filed within due date

Few words are added in the Finance Bill after section 80 AC which reads as under:

“No such deduction shall be allowed to him unless he furnishes a return of his income. For such assessment year on or before the due date specified under sub section (1) of section 139.

It means that to claim deduction u/s 80 AC, return of income has to be filed on or before the time allowed u/s 139(1).

Chronicle amendment it is !!

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