How to claim the tds amount

CA Vanamala Phani Kumar (Proprietor of M/s Vanamala and Co) (972 Points)
Replied 14 June 2012

Same araising for my client.....Can any one tell procudure for Claiming Refund...!!

Patel Dhaval (Audit article) (79 Points)
Replied 14 June 2012

Mention your PAN to the bank who has deducted TDS without PAN and ask them to revise their TDS return or you can demand Form 16 from bank & file the return manually

(Guest)

How to submit Rectification

Step 1: Make sure you have received an intimation under section 143 (1) from CPC Bangalore for the E-returns filed by you for AY 2009-10 or later.

Step 2: Carefully examine the intimation to see if the computation by CPC is correct even if different from what was expected by you. It may be that you may have computed tax liability or interest incorrectly. Take the help by using departmental excel utility available in e-filing website.

Step 3: Since the Rectification Request is to be submitted by uploading the complete xml file similar to uploading the original return, it may be preferable to start with the saved e-return data that was prepared by the return preparation utility/software (Department provided excel software or other software), in case it is available with the taxpayer.

Step 4: Carefully review the Common Error guide and the table above to understand as the basic reason for the variation.

Step 5: All errors in data entry should be completely corrected and schedules or fields left blank should be filled accurately as explained in the guide. The complete return should be filled including TDS and Tax payment schedules and not only schedules that need change or the fields that need correction. This is because the entire return with corrected data would be re-processed under rectification. However, there should not be any revision in income figures or new claims since then the rectification request would be rejected or rectification would be delayed. It may be clearly noted that this facility is only for correcting mistakes apparent from record. Fill the utility as if you are preparing a new ITR.

Step 6: After the Return data is corrected then the xml can be generated. This is the Rectification XML file.

Step 7: Log in to https://incometaxindiaefiling.gov.in and go to My Account-> Rectification-> Rectification upload .

Step 8: Fill in details from the intimation sheet which will be verified to ascertain that only the taxpayer in possession of the Intimation from CPC would be able to submit a rectification request.

Step 9: Fill in details of Schedules where changes have been made and reasons for seeking rectification. Fill in due date for filing return, if incorrect as per intimation sheet. Leave blank if not applicable. Fill in details which are not available in the return form such as details of 80G donations (not available in ITR forms for 1, 2 and 3) and Quarter-wise details of Capital Gains (all four types- which is not available in ITRs 2, 3, 4, 5 and 6) only if applicable. Leave blank if not applicable. Please note if your address has been changed in the rectification XML file, you should check the address changed checkbox to ensure that the new address is updated else the address as per old e-return only will be used.

Step 10: Now upload the Rectification XML file. Validations will be done to ascertain that only mistakes apparent from record are sought to be rectified.

Step 11: Upon successful upload, Rectification Request number and acknowledgement will be displayed.

(Guest)

You may seek rectification u/s.154 by filing an application electronically for rectification to CPC.

see in my account........

Regards

Janani Subramanian (Employed) (151 Points)
Replied 15 June 2012

If you have filed the return correctly giving the correct details you neednt worry about that. You will come to know the adjustment the Income Tax has done onlt after you receive your 143(1) Intimation. SO you ll have to wait for that.

Hitesh (CA Final Student) (79 Points)
Replied 16 June 2012

Hello Friends,

TDS on Salary

Salary recd from two employer . whether exempt allowance u/s 10 is applicable both separately or aggregate amt not exceeding under conveyance allowance 9600 p.y.

VITHAL (ACCOUNTS MANAGER) (41 Points)
Replied 16 June 2012

Dear Sir,

We have issued TDS form 16B to one of our client who had given loan to us and this tds form issued for interest deduction u/s194 A. Even he had submitted 26AS for the AY 2008-09, due to some mistake in the form 26AS, Revised form has to be filed. I would like to know whether we (deductor) has to file the return if yes, then whether same can be filed now, after long period of 3 years. What is the time limit. Is there any penalty for that and also what is proceedure.

Please clarifiy

Regards

Vithal

rajiv (accouny) (21 Points)
Replied 16 June 2012

I AM AN ARMED FORCES EMPLOYEE. I HAVE FILED MY IT REURN ELECTRONICALLY FOR THE AY 2010-11. IN FORM NO. 16 MY PAN WAS WRONG. CPC HAS PROCESSED THE RETURN U/S 143(1) AND CEATES DEMAND BECAUSE IN 26A NO TDS AMOUNT HAS BEEN REFLECTED. I HAVE MADE AN APPLICATION U/S 154 AND THE SAME HAS ALSO BEEN REJECTED/ DISALLOWED BY THE CPC ON ACCOUNT OF MISMATCHING OF ENTIRE TDS.

MY EMPLOYER (ARMED FORCE) HAVING A LARGE NO. EMPLOYEES AND PRACTICALLY IT IS NOT POSSIBLE TO FILE CORRECTED TDS RETURN IN FORM NO. 24Q TO THE NSDL.

I HAVE CONTACTED CPC ON PHONE THEN THEY HAVE SUGGESTEDME THAT IF THE JURISDICTIONAL AO/ITO HAS MADE A REQUEST TO TRANSFER THE CASE/REORD/FILE FROM CPC BY ELECTRONICALLY THEN THE CPC MAY BE SEND THE FILE. THEN I HAS TO FILE PAPER RECTIFICATION U/S 154 BEFORE THE ITO AND THE ITO AFTER VARYFYING THE TDS HE MAY ALLOW THE SAME.

KINDLY ADVICE ME IT IS CORRECT OR ANY OTHER REMEDY IS AVAILABLE.

dattatreyahg (actor) (34 Points)
Replied 21 June 2012

I am a novice in Tax matters. Pl.help me with an advice. I am an Actor in TV Serials. A crossed cheque d/d 26/04/2012 for Rs 151200/-,net after TDS(credited in my Bank a/c on 30/04/2012) was issued to me for my work done in March 2012. Form 16A for A/Y2012-13 issued by Deductor shows Rs 168000/- as "Amount Paid/credited" and "Date of payment/Credit" is shown as 31/03 /2012. and "status of Booking" is shown as "Matched"(even though,what I have received is the cheque d/d 26/04/2012 only). Under Details of TDS,"Tax deposited in respect of deductee (MYSELF)" is 16800/- and "Date on which tax deposited" is shown as 26/05/2012.BSR Code and Challan Sl No are also there. Status of Booking is "Matched". While figures of payment and TDS are all OK, I have following doubts as to how I should reflect it in My IT Return(I have been following "CASH" method of accounting in the past and my gross professional receipts do not fall under "mandatory auditing"):- (1)Shold I show this 168000/- in A/Y 2012-13 as shown by Deductor in Form 16A(or A/Y 2013-14 as I have physically received this amount in A/Y2013-14)? (2)If I should show it in A/y 2013-14,can I claim this TDS amount in A/Y 2013-14,even though Form 16A issued by deductor is for A/Y 2012-13? (3) If this Rs168000/-Gross(151200/- net after TDS) is the first physical receipt of any taxable income for me in A/Y 2013-14 as on 02/06 2012,can I claim 80c benefit on my subscripttion of Rs.100000/- to PPF on 02/06 2012,if I have to necessarily show this 168000/- in my IT Return for A/Y 2012-13?(I will be getting nearly 4 Lakhs more taxable income in subsequent months in A/Y 2013-14) (4) I have incurred some professional expences from 01/04/2012 to 30/04/2012(out of my savings of previous years). Can I claim these expences in A/Y 2013-14,even though I had no physical taxable income till 30/04/2012?