CBDT Condones Delay for AY 2023-24 Returns Claiming Deduction u/s 80P

The Central Board of Direct Taxes (CBDT) has condoned the delay for filing returns for Assessment Year (AY) 2023-24 claiming deductions under Section 80P. The circular provides relief to taxpayers who missed the original deadline for filing their returns due to genuine reasons. The CBDT has extended the deadline, allowing taxpayers to file their returns and claim the deductions without facing penalties. This decision aims to support taxpayers facing difficulties in meeting compliance requirements and ensures that they can avail the benefits of deductions under Section 80P. The circular emphasizes the importance of timely compliance while also recognizing the need for flexibility in certain circumstances.