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Excesss income tax paid

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 March 2016 We have paid excess income tax in A.Y. 2015-2016 because of premature redemption of kisan vikas patra in A.Y. 2016-2017.
Please advise if the excess income tax paid can be adjusted against liability of the current year .
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
12 March 2016 No. You need to claim the excess tax through refund process by filing Income Tax Return of the concerned assessment year.
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 March 2016 I HAD ALREADY FILED THE RETURN.NOW BY FILING THE REVISED RETURN CAN I GET THE REFUND OF THE EXCESS INCOME TAX PAID.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
13 March 2016 Yes you can file the revised return to get the refund. You can file revised return only if the original return was filed within due date.
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