[Update] Reply from Income tax on 80P adjustment issued by Income tax department u/s 143(1)(a) to LLP, Firm etc.
In our last post we have discussed that various assessee who have filed ITR 5 have received intimation or adjustment notice u/s 143(1)(a) of the Act for disallowing deduction u/s 80P whereas no such deduction was claimed by assessee in it’s income tax return.
To read full CLICK HERE: LLP, Partnership firm, AOP etc who have filed ITR 5 for AY 2023-24 are receiving 143(1)(a) notice for 80P adjustment – Taxontips
In our post we have mentioned that assessee need not panic as it seem to be an error from Income Tax department and a clarification shall be issued to assessee.
Today, Income tax department has started issuing reply to various assessee who have raised this query on twitter that the email or adjustment notice has been sent inadvertently and a reply in relation to same shall be sent on email to all assessee.
The twitter reply read as under:
“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” has been inadvertently sent. An email communication regarding this will be sent to you shortly. The inconvenience caused is regretted.“
To read the replies of Income tax department CLICK HERE: (1) 80P Income tax – Search / X (twitter.com)
Thus, it seems that the issue will be resolved soon and the adjustment notice shall be removed from all assessee wherever it was sent incorrectly and where no deduction u/s 80P was claimed.
Let’s hope no such issue happens again as it is a panic situation for clients and in turn for the consultants who file income tax return for such assessee.
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