Tds refund of earlier years...
This query is : Resolved
08 December 2011
I have TDS Certificates for Tax deduction of Rs.10,000/- and Rs.15,000/- (Apprx.) for the Financial Year 2006-07 and 2007-08 respectively. I have not filed any return for these years. Can I file now and get refund? Is there any time limit to claim the refund? My auditor says that I can e-file and get refund from the FY 2009-10 and not before that. Can anyone help me in this regard?
08 December 2011
I agree with your auditor, belated return can be filed with in 1 year from the end of assessment year so it possible only for F.Y 2009-10 and not before that.
09 December 2011
u CAN GET THE REFUND PROVIDED U FOLLWO THE PROCEDURE PRESCRIBED IN Instruction No. 13/2006, dt. 22 12 2006 .
i AM REPRODUCING THE INSTRUCTION FOR UR BENEFIT
1. The procedure for dealing with the applications for condonation of delay in filing returns and claiming refund is presently governed by the Board’s earlier Orders/ Circulars issued under section 119(2)(b) of the Income Tax Act, 1961, namely, F. No. 225/208/93 ITA II, dt. 12 10 1993, read with Board’s Circular No. 670, dt. 26 10 1993 issued from F. No. 225/208/1993 ITA II, Circular No. 8/2001, dt. 16 5 2001 issued from F.No. 212/35/1999 ITA II and also Instruction No. 12/2003, dt. 30 10 2003 issued from F.No. 212/338 /2002 ITA II.
2. In modification to earlier Instructions/Circulars, this Instruction vests the Chief Commissioners of Income tax (CsAT) with powers for acceptance/rejection of applications/ claims under section 119(2)(b) for condonation of delay in filing return involving refund claims above Rs. 10,00,000 and up to Rs. 50,00,000. It also vests the Commissioners of Income tax (CsIT) with powers of acceptance/rejection of applications/claims under section 119(2)(b) for condonation of delay in filing return involving refund claims up to Rs. 10,00,000.
3. The applications/claims under section 119(2)(b) for condonation of delay involving refund claims exceeding Rs. 50,00,000 would continue to be processed by Central Board of Direct Taxes, both for acceptance and rejection.
4. No fresh application for claim of refund will be entertained beyond six years from the end of the assessment year for which the application/claim is made.
5. The powers of acceptance/rejection within the monetary limits delegated to the CCsIT/CsIT would be subject to the following conditions:
(i) The refund has arisen as a result of excess tax deducted/collected at source and payments of advance tax under the provisions of Chapters XVII B, XVII BB and XVII C respectively and the amount of refund does not exceed Rs. 50,00,000 in respect of CCsIT and Rs. 10,00,000 in respect of CsIT for any one assessment year;
(ii) The income of the assessee is not assessable in the hands of any other person under any of the provisions of the Act; and
(iii) No interest will be admissible on the belated refund claims.
6. At the time of considering the case under the provisions of section 119(2)(b), it should be ensured that the income declared and refund claimed are correct and genuine and also that the case is of genuine hardship on merits.
7. The CCsIT/Cs IT are empowered to direct the assessing officer to make necessary enquiries or scrutinize the case in accordance with provisions of the Income Tax Act to ascertain the correctness of the claim.
8. This instruction will also cover those applications/claims for condonation of delay under section 119(2)(b) which are pending as on the date of issue of this instruction.—Vide Instruction No. 13/2006, dt. 22 12 2006.
CA MANOJ GUPTA
JODHPUR
09828510543
i AM REPRODUCING THE INSTRUCTION FOR UR BENEFIT
1. The procedure for dealing with the applications for condonation of delay in filing returns and claiming refund is presently governed by the Board’s earlier Orders/ Circulars issued under section 119(2)(b) of the Income Tax Act, 1961, namely, F. No. 225/208/93 ITA II, dt. 12 10 1993, read with Board’s Circular No. 670, dt. 26 10 1993 issued from F. No. 225/208/1993 ITA II, Circular No. 8/2001, dt. 16 5 2001 issued from F.No. 212/35/1999 ITA II and also Instruction No. 12/2003, dt. 30 10 2003 issued from F.No. 212/338 /2002 ITA II.
2. In modification to earlier Instructions/Circulars, this Instruction vests the Chief Commissioners of Income tax (CsAT) with powers for acceptance/rejection of applications/ claims under section 119(2)(b) for condonation of delay in filing return involving refund claims above Rs. 10,00,000 and up to Rs. 50,00,000. It also vests the Commissioners of Income tax (CsIT) with powers of acceptance/rejection of applications/claims under section 119(2)(b) for condonation of delay in filing return involving refund claims up to Rs. 10,00,000.
3. The applications/claims under section 119(2)(b) for condonation of delay involving refund claims exceeding Rs. 50,00,000 would continue to be processed by Central Board of Direct Taxes, both for acceptance and rejection.
4. No fresh application for claim of refund will be entertained beyond six years from the end of the assessment year for which the application/claim is made.
5. The powers of acceptance/rejection within the monetary limits delegated to the CCsIT/CsIT would be subject to the following conditions:
(i) The refund has arisen as a result of excess tax deducted/collected at source and payments of advance tax under the provisions of Chapters XVII B, XVII BB and XVII C respectively and the amount of refund does not exceed Rs. 50,00,000 in respect of CCsIT and Rs. 10,00,000 in respect of CsIT for any one assessment year;
(ii) The income of the assessee is not assessable in the hands of any other person under any of the provisions of the Act; and
(iii) No interest will be admissible on the belated refund claims.
6. At the time of considering the case under the provisions of section 119(2)(b), it should be ensured that the income declared and refund claimed are correct and genuine and also that the case is of genuine hardship on merits.
7. The CCsIT/Cs IT are empowered to direct the assessing officer to make necessary enquiries or scrutinize the case in accordance with provisions of the Income Tax Act to ascertain the correctness of the claim.
8. This instruction will also cover those applications/claims for condonation of delay under section 119(2)(b) which are pending as on the date of issue of this instruction.—Vide Instruction No. 13/2006, dt. 22 12 2006.
CA MANOJ GUPTA
JODHPUR
09828510543
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