Refund case for revised return
This query is : Resolved
29 December 2024
"I had filed my original income tax return claiming a refund of Rs. 45,000, which I received. However, due to amendments in TDS amounts, I'm now filing a revised return. The revised refund amount is Rs. 65,000, but I've already received Rs. 45,000. Do I need to report the previously received refund amount in my revised income tax return?"
29 December 2024
No, that is not possible. You will get refund amount only after the deduction of previously paid amount.
29 December 2024
In the revised Income Tax Return, do I need to explicitly mention the refund amount of ₹45,000 already received, or should I file the return with the full revised amount and let the department reconcile and process the balance refund?
In the revised Income Tax Return, do I need to explicitly mention the refund amount of ₹45,000 already received, or should I file the return with the full revised amount and let the department reconcile and process the balance refund?
29 December 2024
In ITR utility there is no option to declare refund received earlier. Department processes the return and pays the balance amount, if any; only after the reconciliation.
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