Hi ,
or this Aseesment year , I calcuated my tax lliability wrongly using old slab rates.
According to new rates my liabilit is in 10% categoty whereas I have calculated as 20%.
And deposited that money through online bank transaction to IT department.
Now when doing the Efiling can i indicate that I need Refund ?
will this refund get processed by IT?
yes, calculate and show refund, it would get refunded by income tax, after CPC processing
Yes, you get to the extent of eligible as per correct slab rates from department.
Yes, You will get your excess amount which was you worngly deposited in income tax a/c after the assessment of your return.
file the revise return, and claim the refund in the same....
CAclubindia
