Deduction specified under Chapter VIA (Part C) not to be allowed unless return furnished - (New) section 122(5) / (Old) Section 80AC

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....igibility for deductions under Part C of Chapter VIII if they fail to: • (a) File return on time • The return must be filed on or before the due date under Section 263(1). • (b) Make the claim in the return itself • The deduction must be specifically claimed in that return. Under section 80AC of the Income Tax Act, 1961 [ Upto 31.03.2026 ....

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.... in computing the total income of an assessee of the previous year relevant to the assessment year commencing on the 1st day of April, 2006 or any subsequent assessment year, any deduction is admissible under section 80-IA or section 80-IAB or section 80-IB or section 80-IC or section 80-ID or section 80-IE, no such deduction shall be allowed to him unless he furnishes a return of his in....