Excess refund
This query is : Resolved
Sai Sundar
(Querist)
29 May 2015
Dear sir/madam,
One of our clients filed IT return for AY 2014-15 claiming refund in original return. subsequently in revised return , no refund was claimed. Now the original refund has been processed and amt credited in assesse's bank a/c. Now what will happen.. will a demand come from dept? what should we do? should we pay the amt?
Thanks in advance
One of our clients filed IT return for AY 2014-15 claiming refund in original return. subsequently in revised return , no refund was claimed. Now the original refund has been processed and amt credited in assesse's bank a/c. Now what will happen.. will a demand come from dept? what should we do? should we pay the amt?
Thanks in advance
Nikhil Kaushik
(Expert)
29 May 2015
yes. you would get a demand notice...
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Sai Sundar
(Querist)
30 May 2015
Thank u sir if we want to pay the amt in adv should we pay in minor code 300 (self asst tax) or 400 (regular assesment tax)
Nikhil Kaushik
(Expert)
30 May 2015
if you pay now the code will be 300. You would still get the demand and then you will have to file rectification application...
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