Zen IT || Enable 80PA Deduction Head for Company Status
Process to Enable the 80PA Deduction Head for Company Status When Not Visible in the Deduction Tab
Applicability:
Section 80PA of the Income Tax Act, 1961, allows a 100% deduction of
profits and gains attributable to an eligible business of a producer
company with a turnover below ₹100 crore in the previous year.
For the Current Year: Enter the Nature of Business under Transactions → Filing Information.
If the 80PA column is not visible in the Deduction tab, follow these steps:
Step 1: Navigate to the Company Information Section
- Go to Transaction and click on the Company Information head.
Step 2: Update Company Nature
- Click on the Company Nature option.
- Check the box for "Whether the company is a producer company as defined under Section 581A of the Companies Act, 1956"
- Click the Save button.
Step 3: Enable the 80PA Deduction Tab
- Navigate to the Deduction head and click on the Part C option.
- The 80PA deduction tab will now be enabled.
You can now proceed to claim the 80PA deduction as applicable.
Related Articles
Income tax || Enable 80IAC Deduction Head for Company Status
Process to Enable the 80IAC Deduction Head for Company Status When Option Disable in the Deduction Tab Eligibility Criteria for 80IAC Deduction Incorporation Date: The startup must be incorporated or registered between April 1, 2016 and March 31, ...ExpressITR || Process to Feed Holding and Subsidiary Company Information Details
Process to Feed Holding and Subsidiary Company Information in Express ITR Step 1: Access Client Profile Log in to Express ITR and open the relevant client’s profile. Navigate to the ITR Summary section. Click on Return Flow to access the ITR options. ...Income Tax || How to Feed Deduction u/s 80P
How to Enter Deduction u/s 80P : Section 80P of the Income Tax Act, 1961, provides deductions to cooperative societies in India. It allows certain cooperative societies to claim a deduction on their income from various activities, promoting the ...ExpressITR || 80PA Deduction
Process to Feed 80PA Deduction Details for Producer Companies Applicability of Section 80PA Eligible Business: Section 80PA allows a 100% deduction of profits and gains attributable to the eligible business of a producer company. Turnover Limit: The ...ExpressITR || 80IAC Deduction
Process to Feed 80IAC Deduction Details for Startup Companies Eligibility Criteria for 80IAC Deduction Incorporation Date: The startup must be incorporated or registered between April 1, 2016 and March 31, 2025. Age Limit: The deduction can be ...