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1. 43B Expenses (payment basis allowance) will be allowed if paid on or before 15.10.2018.

2. No Disallowance (100% or 30% of Expense) will be there if TDS will be paid (which has already been deducted till 31.03.2018) till 15.10.2018.

3. PGBP Loss and Capital Gains loss can be carried forward even ITR is filed till 15.10.2018.

4. No Late Fees u/s 234F will be there (INR 1,000/5,000) in case ITR is filed till 15.10.2018.

5. Profit Linked deductions (Section 80-IA to 80-IE), deduction under Section 10AA of the Income tax Act, 1961 will be allowed even if ITR is filed till 15.10.2018.

IMPORTANT “234A” Circular 02/2015 dated 10.02.2015

Circular has clarified that if the whole amount of tax payable under the ITR is paid upto due date of filing ITR, then no Interest u/s 234A will be levied even ITR is filed late.

SO, IT’S BETTER TO PAY YOUR TAXES till 30.09.2018 IN ORDER TO SAVE INTEREST u/s 234A of the Act and File the ITR till 15.10.2018.



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