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Tds erroneously paid??

08 April 2013

TDS has been wrongly remitted to income tax in the quarter of Jan - mar 2013 and it can't be adijusted to any other quarter in the fy 2012-13.is there any option to get the TDS refund from the govt.?

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4 Replies

CA Tushar Singhania (Asst. Manager Accts & Fin.) (402 Points)
Replied 08 April 2013

As far as inkow there is no way to get a refund. it has to be writen off

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Anil Sankar V (CA) (1877 Points)
Replied 08 April 2013

Originally posted by : CA Tushar Singhania
	As far as inkow there is no way to get a refund. it has to be writen off

Any option?

(Guest)

Under section 200(A) all the queartery TDS return shall be processes and if any tax is due to be refunded, it shall be sent to the deductee by department.

Refer: https://www.indiantaxupdates.com/2013/04/08/refund-of-excess-tds-deposited-before-and-after-1st-april-2010/

CMA Devi Vara Prasad Korada (Finance) (654 Points)
Replied 11 April 2013

All refund related to period on or after 01.04.2010 are governed by provisions of section 200A of the Income Tax Act.

“An intimation will be sent to the Deductor, informing him of his tax liability or the refund due after making necessary adjustments/corrections to the original return, within one year from the end of financial year in which the statement is filed. The refund due shall be granted to the Deductor.”

As per section 239 of the Income Tax Act, time limit for making application for refund is one year from the last day of relevant assessment year.