Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Income Tax Refund

TDS 1664 views 2 replies

Shiv om Jindal

ACA

263 Points Joined July 2007

Hi, this is shiv om I have a query on income tax refund.

A Govt Agency Deducted TDS on a Firms income and the TDS certificate remained in the custody of the Govt Agency as there was dispute between the parties which was judicially solved after a period of 8 years. Then the agency released the TDS certificate. Now can the firm cliam refund of the same. As per the provisions of the Income Tax Act it can be claimed within a period of one year only.

Replies (2)

Late CA Sampat Jain

Chartered Accountant

4772 Points Joined March 2007

TDS can be claimed in the year in which the relevant income is disclosed as per section 199 . What is the year in which you have declared the income as per the TDS certificate?? There are Board Circulars for belated refund claims also.

som kansal

chartered accountant

307 Points Joined June 2007

hi shiv, refund can be claimed as the tds certificate wasnt provided to the assessee, due to judicial appeal period. the judicial appeal is to be considered while considering the period of tds refund i.e. one year