I would like to know how refund adj can be done when there is no tax payable agst any ass yr.
Ex: we have refund of rs.11212/- ( ass yr 2005-2006) & refund letter recd from SBI shows amount adj agst demand yr -2009-2010(refund amt-50420/-as per self assessed ) rs.26315 & 2010-2011 rs.789. & we do not have any payable of tax in any ass yrs( from 2005-2006 to 2011-2012) then how do they adjust without giving intimation of refund order. pl clarify.
26 March 2012
IT department can adjust any demand against the refund of the assessee. if you dont have any tax payable, then prepare a application U/s 154 to Assessing Officer.
CAclubindia
