IT Tax Deposited but not claimed in Return

Tax queries 678 views 5 replies

Hi,

What happen if Advance Tax deposited Rs. 50,000 for AY 2004-05 and however it was remained unclaimed in that A Y 2004-05 in the return. Can this be availed by any other way now.

Replies (5)

you can try filing a petition u/s 154. But since it relates to AY:2004-05 i doubt if it would be entertained.

 

1)It can be claimed by request for rectification of mistek apperant from records to AO.

As the Avance Tax deposited might had not been considered by AO while makiing Asseessment, otherwise he would have refunded the amount.

2) Approach to CIT for revision of the Assessment oder on same ground as above.


Both of above rate Subject to Period of Limitation.

Hi Rajesh & Dhawal,

My main concern is whether amount which is not claimed in Return can be availed by way of Refund. Since Sec-154 speaks for Rectification of Intimation and Assessment order and in my case no amount was claimed for Refund against advance tax, in Return.

 Can it be considered as a mistake apparent from Record even though not claimed in Return.

different interpretations are drawn by differernt people.... you can just try all the options .. and one of the options is 154.

Originally posted by : Rajesh P. Ahir

 

1)It can be claimed by request for rectification of mistek apperant from records to AO.

As the Avance Tax deposited might had not been considered by AO while makiing Asseessment, otherwise he would have refunded the amount.

2) Approach to CIT for revision of the Assessment oder on same ground as above.


Both of above rate Subject to Period of Limitation.


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