If you've made a profit in the share market and paid advance tax, but subsequently incurred a loss, you may be eligible for a refund. When filing your Income Tax Return (ITR) for the relevant assessment year, you can claim back any amount paid in advance tax that exceeds your actual net tax liability. This process allows you to recover overpaid taxes due to subsequent losses.
31 March 2025
i got profit in sharemarket, so i paid advance tax after that now i booked for a loss can i get refund amount that i paid advance tax please rectify the problem because i paid advance 29/03/2025 YEAR LONG TERM LOSS/PROFIT SHORT TERM LOSS/PROFIT SPECULATION FNO TAX DETAILS DATE OF PAYMENT YEAR 21 -22 -428451 0 0 YEAR 22 -23 -3162 0 0 YEAR 23-24 -66015 0 0 YEAR 24-25 -1447.35 -2894682.9 1610933.07 1013781.72 TOTAL L/P -499075.35 -2894682.9 1610933.07 1013781.72 TOTAL TAX 483279.92 304134.52 787414.44 Advance TAX PAID 400000 14/09/2024 Advance TAX PAID 720000 18/12/2025 Refund -332585.56 please copy paste the above data you see the correct columns thank you