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.
Message likes :
1 times
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..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Employee secondment
- Applicability of tax on invoice
- Rent agreement of House of deceased person
- Gift to nri relatives resides in usa
- Form 144 TDS Return Validation error
- Rectification under processing even after 6 months cpc portal
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
