Refund of tax

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srikanth (Querist)
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03 March 2010 Hi all,

TDS was deducted on income..whichis excess of the tax what i have to pay....but ii failed to file the return...this has happend 2 year back.. can i get refund...if yes what is the procedure......can u pls give me the procedure

shrikant

shrikant (Expert)
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03 March 2010 Yes you can get refund by submitting return but you have to pay penalty of Rs.5000. So check out cost benefit analysis and then submitt return.

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)
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03 March 2010 you can not file your return prir to A.Y.2007-08 and for A.Y.2008-09 you can file latest by 31.03.2010 with penalty of Rs.5000/-

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 March 2010 If the return is not filled due date peanlty will be Rs.5000/ under sec.271F

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