Regarding tds
This query is : Resolved
CA Narendra
(Querist)
13 June 2014
Respectecd sir
I have met a cleint who is a LIC agent,he had not filed any return of income for past five assessment years.in those five years he got TDS deducted from Commission nearing an amount of Rs.23500
How can he claim that credit,,,,any suggestions please....
I have met a cleint who is a LIC agent,he had not filed any return of income for past five assessment years.in those five years he got TDS deducted from Commission nearing an amount of Rs.23500
How can he claim that credit,,,,any suggestions please....
Nikhil Kaushik
(Expert)
13 June 2014
For FY 2012-13, Fy 2013-14 any excess tax credit can be claimed as refund by filing tax return
for years before that returns cannot be filed suo-moto. you need to approach AO for issue for 142(1) notice. or approach appropriate authority under section 119(2).
please be advised that the process is time-consuming and may not be very beneficial given that tax amount involved in not a big one.
for years before that returns cannot be filed suo-moto. you need to approach AO for issue for 142(1) notice. or approach appropriate authority under section 119(2).
please be advised that the process is time-consuming and may not be very beneficial given that tax amount involved in not a big one.
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CA Narendra
(Querist)
13 June 2014
thank you @nikhil kaushik sir
your reply is helpful
your reply is helpful
Nikhil Kaushik
(Expert)
13 June 2014
For FY 2012-13, Fy 2013-14 any excess tax credit can be claimed as refund by filing tax return
for years before that returns cannot be filed suo-moto. you need to approach AO for issue for 142(1) notice. or approach appropriate authority under section 119(2).
please be advised that the process is time-consuming and may not be very beneficial given that tax amount involved in not a big one.
for years before that returns cannot be filed suo-moto. you need to approach AO for issue for 142(1) notice. or approach appropriate authority under section 119(2).
please be advised that the process is time-consuming and may not be very beneficial given that tax amount involved in not a big one.
Nikhil Kaushik
(Expert)
13 June 2014
you are welcome friend..
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