Claim of tds refund

This query is : Resolved

Manish Dwivedi (Querist)
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17 February 2014 One case came to my purview, facts of the same are hereunder. The assess e ( a partnership firm not required to be audited ) filed return for A.Y 12-13 on 31.12.2013, but in the return they have mentioned the return filed u/s 139 (1) instead of 139 (4). Moreover the TDS deducted amounting Rs.60000 shown in the return as TCS deducted which also got mismatched with the database. The intimation u/s 143 (1) or assessment order for the same is received on 06.02.2014. What future course of action lies for the assessee to claim the refund?

Manish Dwivedi

Manish Dwivedi (Querist)
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18 February 2014 No one answered the query till now..very strange.

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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19 July 2024 In the given case where the partnership firm filed its return for A.Y. 2012-13 under section 139(1) instead of 139(4), and there was a mismatch regarding TDS treated as TCS, here’s the future course of action the assessee can take to claim the refund:

### Steps to Claim Refund:

1. **Rectification of Return:**
- Since the firm filed the return under section 139(1) instead of 139(4), it should first file a revised return under section 139(4) to correct the filing status. This can be done within the applicable time limit (usually within one year from the end of the assessment year).

2. **Rectification of TDS and TCS Details:**
- Rectify the mistake regarding TDS being treated as TCS. This involves correcting the details to accurately reflect TDS deducted and deposited against the firm’s PAN.

3. **Communication with Tax Authorities:**
- Contact the assessing officer (AO) or the concerned income tax department to explain the discrepancies and seek guidance on rectification procedures.

4. **Rectification Application:**
- File an application for rectification under section 154 of the Income Tax Act, 1961. This application should specify the errors in the assessment order or intimation received under section 143(1).

5. **Submission of Documents:**
- Provide necessary documents and evidence to support the rectification claims, including copies of original return filed, revised return (if applicable), TDS certificates, and any other relevant documents.

6. **Follow-up and Compliance:**
- Follow up with the tax authorities regarding the status of the rectification application.
- Ensure compliance with any further requirements or clarifications sought by the tax department.

### Key Points to Consider:

- **Timeliness:** Act promptly to file a revised return and rectification application within the prescribed time limits to avoid any further complications.

- **Documentation:** Maintain complete records of communications, filings, and responses from the tax department for future reference.

- **Professional Assistance:** Consider seeking assistance from a tax consultant or chartered accountant experienced in handling income tax matters to ensure accuracy and compliance with legal requirements.

By following these steps and ensuring accurate rectification of the return and TDS details, the partnership firm can successfully claim the refund of excess taxes paid or deducted erroneously. Regular follow-up and clear communication with the tax authorities are crucial throughout the process to expedite the refund claim.

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