SUBJECT: REPRESENTATION REGARDING INCORRECT PROCESSING OF INCOME TAX RETURNS FILED FOR THE AY 2023-24 [DENIAL OF DEDUCTION EVEN IN CASES WHERE IT HAS NOT BEEN CLAIMED]
The Karnataka State Chartered Accountants Association (R) (in short ‘KSCAA’) is an association of Chartered Accountants, registered under the Karnataka Societies Registration Act, in the year 1957. KSCAA is primarily formed for the welfare of Chartered Accountants and represents before various regulatory authorities to resolve the professional problems faced by Chartered Accountants and the business community.
In the past, we have written to your good selves many times populating various issues, challenges and hardships being faced by taxpayers and Chartered Accountants and suggesting possible solutions on the same. Herein, we are presenting before your good selves, an issue regarding the Proposed Adjustments u/s 143(1) (a) of the Income-tax Act, 1961 (the Act) for deduction u/s 80P, which is causing hardship to the taxpayers….