Rectification of return and claim of tds

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jayesh (Querist)

09 June 2012 Respected Sirs,
I have filled my return online for a.y. 2009-10 on 06.06.2010. return was dully processed with nil demand and nil refund. afterwards 1 person to whome loan was given by me filled his TDS return and gave me a credit my account for Rs. 65000 as interest payable and rs 6500 tax deducted at source U/s 194A. i showed this in return as 10200 Income from other sources(which was derived as below):
Interest received Rs65000/-
Interest paid to parties: 54800/-.
My question is that can i claim this tds through rectification U/s 154 and get the refund if bifurgation was not shown in return and only a figure of Rs. 10200 was shown as interest income. Do not showing bifurgation will be regarded as concealment of income or not?

Prakash Kochar

Prakash Kochar (Expert)

10 June 2012 If you have shown income of Rs. 10200/- but bifucation details are not furnished inyour retun you can claim refund of TDS by submitting application for rectification. Absence of details of receipt and payment under interest head will not amount as concealment.

Ravishankar P

Ravishankar P (Expert)

16 June 2012 Multiple questions here.
Why did you not show the income or (interest) expenditure earlier?
For change in income you should be filing a revised return, which you cant do now as the time for AY09-10 filing is over
The provisions of sec 154 are only for rectifying mistakes apparent from records. This is not one.