REFUND
This query is : Resolved
16 January 2011
If an assessee has filed his return by not claiming refund and the same has been processed after 3 months of processing that return that the assesse received tds certificate form bank. How can he get his refund back.
16 January 2011
Need to file a revised return
16 January 2011
Dear u have to know onece a return get processed than can't be revised.
17 January 2011
First of all, you should mention the A.Year .
If the above case is for the A.Y. 2009-10,Then you can revise the return upto 31/03/2010.
I think you are talking about intimation u/s 143(1).If you have received intimation u/s 143(1).then you can revise the return because it is an intimation not an assessment order.
If the above case is for the A.Y. 2009-10,Then you can revise the return upto 31/03/2010.
I think you are talking about intimation u/s 143(1).If you have received intimation u/s 143(1).then you can revise the return because it is an intimation not an assessment order.
17 January 2011
Online rectification of returns is now possible by IT India web site.Before that, you have register the assessee using PAN number. There is an option for retctifing if the mistake is in the assessee's part as like 154 petion which we will do if the mistake is at the assessing officers part.
17 January 2011
Hi,
As per Income Tax provisions, original return i.e Return filed within the due date can be revised.
However, if return is filed after due date, it can not be revised.
So, in order to claim the refund, assessee has to revise the return if it is filed in time.
Section 154 is applicable only when there is a mistake from the part of the assessing officer.
Regards.
C.A.NISHIT DOSHI
As per Income Tax provisions, original return i.e Return filed within the due date can be revised.
However, if return is filed after due date, it can not be revised.
So, in order to claim the refund, assessee has to revise the return if it is filed in time.
Section 154 is applicable only when there is a mistake from the part of the assessing officer.
Regards.
C.A.NISHIT DOSHI
18 January 2011
Ms.Nikitha, I have said as like 154, there is a option to rectify the mistake made from the assessee's part for returns filed online ie., e filing. Please check out that. Practically we did like that for a client after receiving 143(1)intimation. This servie of rectification available in IT India site.
18 January 2011
Dear Nishita& Ramya as per sec.154 mistake which is apperant on record can be rectified either by A.O. Souo moto or by reciveing an application from assessee. my question is can 154 can be made after 3 monts of receiveing order u/s143(1).
18 January 2011
Sanat ji w.e.f of a/y1989_90 intimation u/s 143(1) is an summary assessment order.
19 January 2011
Nitinji,
see para 357.2 of direct tax (V.K.SINGHANIA)
CASE LAW
S.R.KOSHIT vs CIT.
CIT vs RAJESH JHAVERI STOCK BROKERS (P) LTD.
HERE IT IS CLEARLY MENTIONED THAT IT IS AN INTIMATION NOT ASSESSMENT ORDER AND YOU CAN REVISED THE RETURN.
see para 357.2 of direct tax (V.K.SINGHANIA)
CASE LAW
S.R.KOSHIT vs CIT.
CIT vs RAJESH JHAVERI STOCK BROKERS (P) LTD.
HERE IT IS CLEARLY MENTIONED THAT IT IS AN INTIMATION NOT ASSESSMENT ORDER AND YOU CAN REVISED THE RETURN.
19 January 2011
Mr.Nitin sharma as per sec 154(7) time limit for 154 petition is 4 years from passing of order 143(1). First tell me whether it is e-filed return or manually filed and for which AY. Because for one of our clients who had the same problem, we rectified online the mistake of TDS not entered in return. Its actually the mistake of the assessee and not the Assessing officer. So u can rectify that.
19 January 2011
For more details you log on to incometax india.gov.in site and login into your client's account and go under services option and select rectification option. It will ask you whether the mistake is assessess's or assessing officer's part. Select Assessee's mistake and rectify it... so simple. Try this. For knowing the steps clearly, read rectification manual available in Incometaxindia.gov.in site.
19 January 2011
Thanks to all of you.
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