Assessment Completed u/s 147 of the IT Act

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If your Income Tax assessment under Section 147 has been completed with a nil demand, it generally means no additional tax is owed. The TDS amount paid is usually factored into this calculation. However, if the computation sheet doesn't reflect credit for taxes already paid, you may be able to request a rectification to claim a refund of any excess credit.

ramu pilla

ramu pilla (Querist)
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11 April 2025 ASSESSMENT COMPLETED U/S 147 OF THE IT ACT WITH DEMAND OF NILL. IN SUCH CASE TDS AMOUNT OF THE ASSESSEE IS TO BE REFUNDED OR NOT?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 April 2025 The assessment would have been considered based on the TDS amount, so no question of any refund or demand.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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12 April 2025 nil demand only means that no new tax is due. check the computation sheet. Only if they have not considered credit for the taxes already paid, there could be a case for request for rectification and subsequent refund of excess credit.

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