Prateek Jotwani (student) (201 Points)
10 July 2013Greetings to everyone
I have failed to claim tds worth Rs 40,000 in my return. I could have revised the return .But i discovered the folly after 2 year as a result i cannot revise the return. Can i move application under sec 154 of the income tax act. kindly guide,. Actually my accountant is absconding that is why. My second question is that can i set off tax dues of one year against refund of another. Pls reply
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 10 July 2013
Prateek,
I wonder how and what income you have which has resulted in such TDS when you are a student ! Please show me the way -- I shall use that ploy or method.
Coming to your doubt , yes, you can move section 154 if there is an intimation under section 143(1)(a). But ensure that you have disclosed and offered the corresponding income to tax..
Secondly, you cannot set off refund of one year from payable for another year. Only Dept. can do it.
Regards,
CAclubindia
