Income Tax Refund
This query is : Resolved
27 August 2010
Experts,
I had earlier submitted the income tax return on 04th December 2009 in which refund claimed was Rs. 9,510/-.
A month back it has been found that the TDS certificate of Rs. 9,522/- issued by one of the deductor was not considered in filling the income tax by me.
As soon as I noticed the same, I have flied the revised return for the same on 26th July 2010.
In revised return i had claimed the total of Rs. 19,030/- as final amount of income tax refund.
By the time Central Processing Center process the revised return, original return was processed & Refund order of Rs. 7,890/- was issued to me on 20th August 2010.
Tell me now how can i get balance amount of Refund.
Pls. revert urgently.
I had earlier submitted the income tax return on 04th December 2009 in which refund claimed was Rs. 9,510/-.
A month back it has been found that the TDS certificate of Rs. 9,522/- issued by one of the deductor was not considered in filling the income tax by me.
As soon as I noticed the same, I have flied the revised return for the same on 26th July 2010.
In revised return i had claimed the total of Rs. 19,030/- as final amount of income tax refund.
By the time Central Processing Center process the revised return, original return was processed & Refund order of Rs. 7,890/- was issued to me on 20th August 2010.
Tell me now how can i get balance amount of Refund.
Pls. revert urgently.
27 August 2010
Since original return has been late filed u cannot revise ur return and hence the same is not considered.
27 August 2010
AGREED, RETURN FILED AFTER DUE DATE I.E BELATED RETURN CAN'T BE REVISED AT ALL, HENCE CPC PROCESS THE ORIGINAL RETURN.
28 August 2010
is there any way to claim the forgotten tds.
30 August 2010
How To Get The Refund You Forgot To Claim ?
There are many circumstances in which a person may forget to claim the credit of tax deducted at source. This is specially true of the cases where a person is either not supposed to file return of income as most of income is exempt , but some kind of TDS has been made or a person is ignorant about claiming refund of TDS/TCS . In all such cases ,it is possible to claim refund by filing condonation petition u/s 119(2)(b) of the I T Act even if such claim was not made in last six years.
For example , if you find that you forgot to claim refund for Asst Yr2003-04 , you can file the petition to condone the delay in filing of return and claim of refund to Commissioner or Chief Commissioner or CBDT till 31/3/2010 according to value of refund involved.
Important points
The important points of the scheme as per the CBDT instruction no 12/2003 Date : 30.10.2003 is as under
1. The petition is to be made to u/s 119(2)(b) of the I T Act.
2. The power to condone delay in claim of refund is as under
i. With CIT upto Rs 1,00,000
ii. With CCIT upto Rs 5,00,000
iii. With CBDT claim exceeding Rs 5,00,000.
3. No interest u/s 244A is allowed.
4. Refund should be on account of TDS or TCS or Advance Tax. It means that self assessment case is not covered under this .
5. Income of the assessee should not be assessable in the hands of any other assessee.
6. If the return is being filed for first time , the CIT may order that the refund should be issued only after scrutiny order u/s 143(2) is passed by the A.O.
How to make the claim?
Following steps should be followed
• Write an application u/s 119(2)(b ) of the I T Act stating clearly stating why you could not file return or claim refund.
• Enclose evidence in support of your claim.
• Enclose evidence of your TDS /TCS or Advance tax deposit.
• Clearly state the computation of your income and tax for that year.
Once the CIT or CCIT or CBDT makes an order condoning the delay u/s 119(2)(b) of the I T Act , the A.O will give refund .
There are many circumstances in which a person may forget to claim the credit of tax deducted at source. This is specially true of the cases where a person is either not supposed to file return of income as most of income is exempt , but some kind of TDS has been made or a person is ignorant about claiming refund of TDS/TCS . In all such cases ,it is possible to claim refund by filing condonation petition u/s 119(2)(b) of the I T Act even if such claim was not made in last six years.
For example , if you find that you forgot to claim refund for Asst Yr2003-04 , you can file the petition to condone the delay in filing of return and claim of refund to Commissioner or Chief Commissioner or CBDT till 31/3/2010 according to value of refund involved.
Important points
The important points of the scheme as per the CBDT instruction no 12/2003 Date : 30.10.2003 is as under
1. The petition is to be made to u/s 119(2)(b) of the I T Act.
2. The power to condone delay in claim of refund is as under
i. With CIT upto Rs 1,00,000
ii. With CCIT upto Rs 5,00,000
iii. With CBDT claim exceeding Rs 5,00,000.
3. No interest u/s 244A is allowed.
4. Refund should be on account of TDS or TCS or Advance Tax. It means that self assessment case is not covered under this .
5. Income of the assessee should not be assessable in the hands of any other assessee.
6. If the return is being filed for first time , the CIT may order that the refund should be issued only after scrutiny order u/s 143(2) is passed by the A.O.
How to make the claim?
Following steps should be followed
• Write an application u/s 119(2)(b ) of the I T Act stating clearly stating why you could not file return or claim refund.
• Enclose evidence in support of your claim.
• Enclose evidence of your TDS /TCS or Advance tax deposit.
• Clearly state the computation of your income and tax for that year.
Once the CIT or CCIT or CBDT makes an order condoning the delay u/s 119(2)(b) of the I T Act , the A.O will give refund .
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30 August 2010
Thanks, CA. BIJENDER KR. BANSAL. This is a very nice info.
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