Refund
This query is : Resolved
20 July 2011
Urgent
if our refund for the F.Y. 2010-11 exceeds Rs. 1,00,000/-, can we carry forward our Refund to this quarter and claim set off
Kindly inform us.
if our refund for the F.Y. 2010-11 exceeds Rs. 1,00,000/-, can we carry forward our Refund to this quarter and claim set off
Kindly inform us.
20 July 2011
No it is not possible.
Assessee can not set of his/her tax against last year refund. Only IT dept have such right to set off your tax credit against demad of past period(s).
Assessee can not set of his/her tax against last year refund. Only IT dept have such right to set off your tax credit against demad of past period(s).
20 July 2011
actually having VAT refund for 31/3/2011 and for quater ending June we need to pay VAT hence can the net be payable
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