TDS refund
Claim your Income Tax Refund for six years
Income Tax - You are required to file your income tax return in case your gross total income exceeds the amount of the basic exemption limit. You can file your return of income for claiming refund of taxes even if your income does not exceed the exemption limit due to TDS or payment of advance taxes . ...
Read MoreSimple ways to avoid Defaults in TDS Statements
Income Tax - We can easily avoid Defaults in TDS statements, by way of adherence to the following basic principles: · Timely Payment of total taxes deducted/ collected · Correct Reporting with regard to PANs, Tax Rate and Challans · Complete Reporting for all Deductees · Timely filing of TDS Statements...
Read MoreProcedure for Refund of Excess TDS Deducted/ Paid
Income Tax - If a deductor has deposited excess amount of TDS , the procedure for getting refund was given in Board Circular 285 dated 21-1-1980. Now CBDT has issued new circular in this respect....
Read MoreCan excess TDS Paid for last Financial year can be adjusted against current F.Y.
Income Tax - The answer is 'NO' there is no such provisions in the Income tax Act /rules to adjust the same by assesee himself. If the excess is related to perriod up to 31.03.2010 then Assesssee can claim refund of the same as per the provisions of CIRCULAR NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011 . Detailed analysis of the same can be ...
Read MoreCBDT circular on refund procedure for excess TDS on payments to residents pertaining to the period up to 31 March 2010
Income Tax - Circular NO. 2/2011 [F.NO. 385/25/2010-IT(B)], DATED 27-4-2011 of Central Board of Direct Taxes (CBDT) on refund procedure for excess tax deducted at source (TDS) on payments to residents.The new Circular is applicable for refunds pertaining to the period up to 31 March 2010. The procedure for refunds for the period from 1 April 2010 is g...
Read MoreObviate Hardships Arising In Relation to Claiming of Credit For Tax Deducted U/S. 199
Income Tax - Section 199 read with rule 37BA deal with the provisions in regard to granting credit for tax deducted. However, there are a number of situations, where in actual practice, it becomes extremely difficult or at times, even virtually impossible for the person entitled to claim credit for tax so deducted....
Read MoreTDS Credit cannot be denied on the ground of Form 26AS mismatch
Rakesh Kumar Gupta Vs Union of India and another (Allahabad High Court) - Respondents have denied refunding the TDS on the ground that the refund would only be granted when the TDS matches with the details mentioned in Form 26AS. Since the mismatching is not attributable to the assessee and the fault solely lay with the deductor, we find that a case has been made out for ...
Read MoreCBDT notifies changes in Rules related to Refund of TDS
Notification No. 45/2017 - (05/06/2017) - CBDT has vide notification No. 45/2017 notified that claim for refund of TDS paid can be furnished by the deductor in Form 26B electronically under digital signature or verified through an electronic process....
Read MoreExcess of TDS deposited U/s. 195 eligible for Interest U/s. 244A
Circular No. 11/2016-Income Tax - (26/04/2016) - The procedure for refund of tax deducted at source under section 195 of the Income tax Act, 1961, to the person deducting the tax is delineated in CBDT Circular No. 7/2007 dated 23.10.2007. Circular No. 7/2007 states that no interest under section 244A of the Act, is admissible on refunds to be gran...
Read MoreRecent Posts in "TDS refund"
CBDT notifies changes in Rules related to Refund of TDS
Notification No. 45/2017 - (05/06/2017) -
Excess of TDS deposited U/s. 195 eligible for Interest U/s. 244A
Circular No. 11/2016-Income Tax - (26/04/2016) -
Obviate Hardships Arising In Relation to Claiming of Credit For Tax Deducted U/S. 199
Claim your Income Tax Refund for six years
TDS Credit cannot be denied on the ground of Form 26AS mismatch
Rakesh Kumar Gupta Vs Union of India and another (Allahabad High Court) -
Simple ways to avoid Defaults in TDS Statements
Procedure for Refund of Excess TDS Deducted/ Paid
Can excess TDS Paid for last Financial year can be adjusted against current F.Y.
CBDT circular on refund procedure for excess TDS on payments to residents pertaining to the period up to 31 March 2010
Procedure for TDS refund
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