How to get tds refund ??

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santosh choudhary (Querist)
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05 June 2014 Dear Experts,

Very good morning to all my query is one of my relative involving in mobile communication business as well as online money transferring on behalf of customers through SUVIDA INFOSERV PVT LTD. therefore suvida given a certain commission on monthly basic to my relative after deducting TDS U/S 194 H @ 10% so now i want to know can he get refund from income tax if yes then which way and which ITR should be filed to get tds refund pls note he is an individual and no large scale of his business.
Thank You !!

Rajagopalakrishnan R

Rajagopalakrishnan R (Expert)
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05 June 2014 You will be required to file a regular return of income in ITR 4 : You will be required to furnish a profit and loss account and a balance sheet in the return, which if your business is not too large, is very easy to prepare. After considering the tax on the net profit you show in your Profit and loss account, the balance if any out of the TDS deducted will be refunded to you. This will normally happen 3-6 months from the month in which you file the return electronically.

santosh choudhary

santosh choudhary (Querist)
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05 June 2014 Thank you so much for your reply sir one thing is there necessery to prepare profit & loss a/c and balance sheet to furnish ITR-4 ?

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Rajagopalakrishnan R

Rajagopalakrishnan R (Expert)
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05 June 2014 There is a fixed format inside ITR 4, for P& L and Balance sheet. you can fill that up