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 . ...

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Simple 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...

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Procedure 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....

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Can 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 ...

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CBDT 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...

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Obviate 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....

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TDS 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 ...

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CBDT 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....

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Excess 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...

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Recent Posts in "TDS refund"

CBDT 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 More

Excess 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 granted in accordance with the circular or o...

Read More

Obviate Hardships Arising In Relation to Claiming of Credit For Tax Deducted U/S. 199

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 More
Posted Under: Income Tax |

Claim your Income Tax Refund for six years

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 More
Posted Under: Income Tax | ,

TDS 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 grant of a mandamus for refund of the TD...

Read More

Simple ways to avoid Defaults in TDS Statements

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 More
Posted Under: Income Tax | ,

Procedure for Refund of Excess TDS Deducted/ Paid

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 More
Posted Under: Income Tax | ,

Can excess TDS Paid for last Financial year can be adjusted against current F.Y.

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 More
Posted Under: Income Tax | ,

CBDT circular on refund procedure for excess TDS on payments to residents pertaining to the period up to 31 March 2010

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 More
Posted Under: Income Tax | ,

Procedure for TDS refund

The Central Board of Direct Taxes has issued circular prescribing the procedure regulating refund of amount paid in excess of tax deducted and/or deductible in respect of payments to residents as covered under sections 192 to 194LA of the Income-tax Act. The Circular will be applicable for claim of refunds for the period upto 31 March 201...

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Posted Under: Income Tax | ,
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