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Company Previous Year Tax Refund

08 August 2023

In the Assessment Year 2020-21, the TDS amount was absent from Form 26AS during the return filing process, and the company did not make a claim for it back then. However, the current situation reveals that a TDS amount of 4 lakhs is now reflected in Form 26AS. Is it possible for the company to seek a refund under these circumstances, and if so, what is the procedure to do so?

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11 Replies

Mahesh Shah (2308 Points)
Replied 08 August 2023

For AY 21-22, due to technical errors/ glitches in portal, my tds of 28000/- remains unclaimed
please tell me if you know...how to claim tds for above said

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Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 09 August 2023

@ Mahesh Shah,

You can file rectification return after correcting the tds schedule. If there is no issue from Tds mismatch then you may apply for reprocess the ITR under rectification return

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Mahesh Shah (2308 Points)
Replied 09 August 2023

@ Reddy.....will portal allow rectification for AY21/22....now??????

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 09 August 2023

Yes. Very much allowed. Refer Section 154 of the income tax act

Mahesh Shah (2308 Points)
Replied 09 August 2023

In rectification....the moment tds is claimed.....there is change of income....and thus it will not allow

Pl go through rectification clauses

Still....I had tried earlier

But failed

CPC also suggested same

But what when income is changed??

In rectification....income should not change

Moment I put 28000/- tds refund....income changes

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Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 09 August 2023

@ Mahesh Shah,

Whatever your saying is correct.

You have the option to change the tds schedule alone in rectification.

CPC says it will happen but practical difficulties are there.

Data correction option is there but at the final stage it may not accept

Mahesh Shah (2308 Points)
Replied 09 August 2023

Lodged grivence with CPGRAMS

Lodged grivence with jurisdiction AO

Took advice of professional (CA)

No body could guide

Is there any solution??

SHIRISH S S (Proprietor) (1030 Points)
Replied 10 August 2023

RECTIFICATION IS ONLY IF YOU HAVE CLAIMED TDS IN ORIGINAL RETURN AND AT THE TIME OF ASSESMENT , TDS WAS NOT REFLECTING IN 26AS. For Fresh claim of TDS you have to file revised return if time permits. Otherwise make a request for revised return under "Condonation of delay". IF NOT ALLOWED , YOU CAN GO TO APPEALATE . A more expert person can tell about this.

1 Like

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 10 August 2023

For 2021-22 AY , revised return deadline is over.

You may do mannual rectification return and visit the AO

Mahesh Shah (2308 Points)
Replied 11 August 2023

Today after 2 yrs..I think jurisdiction AO rectified my itr with technical issues for AY 21/22 and got intimation with refund order with intreast on refund
pl reff my above posted issue of 28000/- tds refund

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SHIRISH S S (Proprietor) (1030 Points)
Replied 11 August 2023

I got refund of FY 2007-08 last year (2022) and FY 2008-09 in 2021 after putting grievance to pgportal.gov.in . This is PMO's personal grievance cell. But I had claimed all TDS and advance tax. TDS and Advance tax was not visible in 26AS at that time. My client filed TDS rectification and IT dept junior officer didn't know how to bring advance tax details from old system to new one. He asked his colleague and then it was done. He asked for Xerox copy of cancelled chq also , but no refund was coming. I got near to six digit interest on my FY 2008-09 refund.