REGARDING FORM 71.

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This query is : Resolved

Suresh S. Tejwani (Querist)

10 December 2024 1) ASSESSEE INADVERTANTLY NOT CLAIM REFUND IN LAST YEAR FOR WHICH HE FILE FORM 71 BUT IN RETURN OF NEXT FINANCIAL YEAR TDS OF LAST YEAR NOT CLAIMED, SO RETURN OF THIS YEAR NEED TO BE REVISED, IF YES, THEN TDS REFUND NEED TO BE CLAIM OF BOTH YEAR IN SUCH RETURN OR NOT? ALSO, REFUND OF THIS YEAR IS ALREADY CREDITED BY DEPARTMENT.

2) IN FORM 71, REFUND NEED TO BE CLAIM IS OF A.Y. 2023-24 THAT CLAIM IN NEXT YEAR F.Y. 2023-24 (A.Y. 2024-25)
9. RELEVENT AY UNDER SECTION 155(20) IS 2023-24
11. SUBSEQUANT F.Y. UNDER SECTION 155(20) IS 2023-24

3) IF REFUND NOT RECEIVED THEN FORM 71 CAN BE WITHDRAWAL OR AGAIN CAN WE FILE SUCH FORM?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

14 December 2024 Form 71 will be of no use when return not filed. File updated return if tax payable over the income not declared (for which TDS was deducted); otherwise file condonation request to file ITR if refund eligible. If the relevant income was included in the original return against which the claim of TDS could not be made. You may also file Form No. 71 to the Assessing Officer to claim such a refund within 2 years.

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