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of <h1>Timely Tax Filing Required for Deductions Under Sections 80-IA, 80-IAB, 80-IB, 80-IC as per Section 80AC.</h1> Section 80AC was introduced into the Income-tax Act by the Finance Act, 2006. It stipulates that for any assessment year commencing on or after April 1, 2006, an assessee cannot claim deductions under sections 80-IA, 80-IAB, 80-IB, or 80-IC unless they file their income tax return by the due date specified in section 139(1). This provision ensures that tax deductions are contingent upon timely filing of tax returns.
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