Income tax refund

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GAUTAMI MUDUNURI (Querist)

20 May 2009 hai i need details regarding IT refund.I undertaken a contract to hire cabs in the year 2007. the contract has been from august 2007 to december 2008. the income tax has been deducted earlier every month from the contract price. can i claim refud of such amount and what is the time limit for such claim. please suggest me

Vipul J. Bhavsar

Vipul J. Bhavsar (Expert)

20 May 2009 Yes you can claim the refund if your income is below basic exemption limit. You will have to file Return of Income before 31st July 2009.A person needs to submit his Return of Income in order to support his Tax liability or to claim Refund if his Income is below basic exemption limit. For Assessment Year 2009-10 the basic exemption is Rs.1,80,000 for a Resident Female not being a Senior Citizen.
You will have to file Return of Income in ITR 4. Please consult a Chartered Accountant for filing your Return.

GAUTAMI MUDUNURI

GAUTAMI MUDUNURI (Querist)

21 May 2009 tank you Vipul.

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