Refund........
This query is : Resolved
11 August 2012
RESPECTED SIR/MADAM,
I HAVE REFUND OF RS.3500 IN F.Y.2010-11 BUT I CLAIMED ONLY RS.1500 IN MY INCOME TAX RETURN WITHOUT CONFIRMING FORM 26AS AND I HAVE RECEIVED AMOUNT OF REFUND RS.1500 WHICH WAS CLAIMED BY ME. NOW FOR BALANCE REFUND OF RS.2000 WHAT PROCEDURE I HAVE TO FOLLOW? WHETHER I CAN FILE REVISED RETURN FOR THAT YEAR...? AND I HAVE NOT FILLED RETURN OF F.Y.2011-12 YET....
PLS REPLY
I HAVE REFUND OF RS.3500 IN F.Y.2010-11 BUT I CLAIMED ONLY RS.1500 IN MY INCOME TAX RETURN WITHOUT CONFIRMING FORM 26AS AND I HAVE RECEIVED AMOUNT OF REFUND RS.1500 WHICH WAS CLAIMED BY ME. NOW FOR BALANCE REFUND OF RS.2000 WHAT PROCEDURE I HAVE TO FOLLOW? WHETHER I CAN FILE REVISED RETURN FOR THAT YEAR...? AND I HAVE NOT FILLED RETURN OF F.Y.2011-12 YET....
PLS REPLY
11 August 2012
As regards to fy 10-11 ur return has been processed , therefor u can't revise the return for that year.
But if in last year's return u showed your all income(including that on which refund has not been claimed) than u can claim remaining refund of that year in current year return. But if u did not showed the income as well in that year than.the remaining refund is a dead loss for u, and can't be claimed now.
(the above one is my own conclusion, because when we give a look on the tds column in the ITR , it asks for the year in which tds was deducted, hence previous year tds can also be claimed as refund , provided u showed ur correct income in that year.)
But if in last year's return u showed your all income(including that on which refund has not been claimed) than u can claim remaining refund of that year in current year return. But if u did not showed the income as well in that year than.the remaining refund is a dead loss for u, and can't be claimed now.
(the above one is my own conclusion, because when we give a look on the tds column in the ITR , it asks for the year in which tds was deducted, hence previous year tds can also be claimed as refund , provided u showed ur correct income in that year.)
12 August 2012
Chirag,
Is the original return in time or belated? That will be the factor to be considered in your case.
Your claim of refund should be based on your tax liability and income for that year and not your Form 26AS reflections.
Is the original return in time or belated? That will be the factor to be considered in your case.
Your claim of refund should be based on your tax liability and income for that year and not your Form 26AS reflections.
12 August 2012
Dear Chirag,
As your refund is granted you can not revise the return. But you can claim the balance refund by way of rectification u/s. 154.
As your refund is granted you can not revise the return. But you can claim the balance refund by way of rectification u/s. 154.
12 August 2012
make application for rectification of mistake u/s 154
12 August 2012
Hello Mr Praveen and Vishnu Ji....
I want to ask that, is it possible to claim refund via sec 154? that too of that year of which neither income was shown nor relating excess TDS deducted was claimed by asessee. moreover the assessment of that year has been completed.
I want to ask that, is it possible to claim refund via sec 154? that too of that year of which neither income was shown nor relating excess TDS deducted was claimed by asessee. moreover the assessment of that year has been completed.
12 August 2012
Yes it can be claimed. Rectification u/s. 154 can be filed only after completion of assessment.
13 August 2012
thank you sir.......
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