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Tds amount not claimed in origional belated returned filed

Rajan (Service) (157 Points)

05 December 2014

Dear Members,

I have filed Income Tax Retrun for A.Y. 2014-2015 under section 139(4).

Due to an oversight TDS amount has remained out without claiming in the retrun.

Now what is the solution for claiming this unclaimed TDS.

Kindly give your expert advice on the same.

Thank you.

Rajan

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6 Replies

Hemanth Pullanikkat (Chartered Accountant) (89 Points)
Replied 05 December 2014

Check whether the unclaimed TDS amount is reflected in income tax website, 26AS.

If so, As per sub clause (d) of subsection (1) of section 143 of the Income Tax Act 1961 'an intimation shall be prepared or generated and sent to the assessee specifying the sum determined to be payable by, or the amount of refund due to, the assessee under clause (c).

So in this case an intimation under section 143(1) will be sent to your address or to the registered mail id with the income tax department.Then you can file a rectification return as per section 154 of Income Tax Act 1961 after claiming the TDS amount, which is not claimed now. This is the only solution available to this problem.

Note that Income Tax dept will sent an intimation u/s 143(1) only if the TDS amount is reflected in their website, 26AS, because then only section 143(1)(c) will get attract.

In short wait for the Intimation, if TDS amount is reflected in 26AS, and do a rectification return after claiming TDS amount.

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Rajan (Service) (157 Points)
Replied 06 December 2014

Dear Hemantji,

Thank you very much for your prompt suggestion. The TDS amount is reflected in Form 26AS, but this amount remained unclaimed.

If we file a recetification return under section 154 after receiving intimation under section 143(1) will this be valid becasue as per section 154 only mistakes can be rectified. Please advice.

Thank you.

Yusuf Khamgaonwala (CA in practice) (72 Points)
Replied 06 December 2014

Agree with Hemanth Pullanikkat

Hemanth Pullanikkat (Chartered Accountant) (89 Points)
Replied 06 December 2014

You said it correctly Mr.Rajan.

Section 154 of Income Tax Act 1961 is using to rectify the mistakes made by the department in sending intimation u/s 143(1) too. The assessee can correct his mistakes, in the income tax return already submitted, only through filing revised return by invoking section 139(5) of income tax Act 1961. But you cant invoke section 139(5) because you filed the original return after the time allowed under section 139(1).So this is the only solution available to you.