Excesss income tax paid

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2016 We have paid excess income tax in A.Y. 2015-2016 because of premature redemption of kisan vikas patra in A.Y. 2016-2017.
Please advise if the excess income tax paid can be adjusted against liability of the current year .

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 March 2016 No. You need to claim the excess tax through refund process by filing Income Tax Return of the concerned assessment year.

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Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2016 I HAD ALREADY FILED THE RETURN.NOW BY FILING THE REVISED RETURN CAN I GET THE REFUND OF THE EXCESS INCOME TAX PAID.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 March 2016 Yes you can file the revised return to get the refund. You can file revised return only if the original return was filed within due date.