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HARDAMAN SETH
(Querist)
06 February 2016
Hi
Iam a salaried person.I have made some donation u/s 80G in FY 15-16 worth Rs 75000 where entire deduction is allowed. Since my employer has not included this in my Form-16, I will need to claim a refund from IT authorities for the excess tax paid. I also have short term capital gains from selling of Debt Mutual Funds in the same FY. Can the tax on this gain from selling of Debt Mutual Fund be set off against the tax refund due to me from donation?
Iam a salaried person.I have made some donation u/s 80G in FY 15-16 worth Rs 75000 where entire deduction is allowed. Since my employer has not included this in my Form-16, I will need to claim a refund from IT authorities for the excess tax paid. I also have short term capital gains from selling of Debt Mutual Funds in the same FY. Can the tax on this gain from selling of Debt Mutual Fund be set off against the tax refund due to me from donation?
Ashish Bansal
(Expert)
11 February 2016
Yes, you can avail the benefit of excess tds deducted by your employer in your personal ITR.
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