Section 80P: Have You Received Notices For Inaccurate Tax Deduction Claims? Know About What The Income Tax Authorities Have To Say!!

The Income Tax Department has explained that notices addressed to various income taxpayers for incorrectly claiming tax deductions under Section 80 P were delivered to them by mistake.

In answer to a question posted on X (previously Twitter) by the taxpayer, chartered accountant Nirav Choksi, the tax agency stated that “an email communication regarding this will be sent to you shortly.”

“In a partnership firm, there are incorrect return errors.” Section 80P is not applicable to businesses. “It is a futile exercise to respond to such system-generated queries. @IncomeTaxIndia,” Choksi tweeted on September 1.

“Intimation u/s 143(1) of Income-tax Act, 1961 with the error description ‘In Schedule 80P, deduction u/s 80P(2)(e) cannot be claimed on income other than rental income’ was mistakenly sent,” the Income Tax Department said. An email with further information will be sent to you shortly. “We apologize for the inconvenience.”

Hundreds of taxpayers contacted their tax advisers last week after getting these letters, which were delivered even after they had e-verified their returns and the deadline for doing so had passed on August 31.

The notices were about claiming deductions that they weren’t even qualified for. The issue here was that these deductions were intended for cooperative groups rather than individuals.

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Stuti Talwar

Expressing my thoughts through my words. While curating any post, blog, or article I'm committed to various details like spelling, grammar, and sentence formation. I always conduct deep research and am adaptable to all niches. Open-minded, ambitious, and have an understanding of various content pillars. Grasp and learn things quickly.

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