TDS credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2010 I have not claim TDS credit in the previous year return due to non receipt of TDS certificates.

Whether I have to Revise Return or not ?

or I can Claim it in current year ?

or any other way than under which provisions?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 September 2010 you need to revise the return, before you check 26AS status in nsdl website

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2010 I Cant't claim it in current year instead of revising return

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 September 2010 No. You can't claim.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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18 September 2010 Agreed, you can claim tds in only that year in which it is related, hence it is advisable to revise the return.
If you filed original return not in time limit i.e you file belated return, then you have no option to revise return also.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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18 September 2010 How To Get The Refund You Forgot To Claim ?

There are many circumstances in which a person may forget to claim the credit of tax deducted at source. This is specially true of the cases where a person is either not supposed to file return of income as most of income is exempt , but some kind of TDS has been made or a person is ignorant about claiming refund of TDS/TCS . In all such cases ,it is possible to claim refund by filing condonation petition u/s 119(2)(b) of the I T Act even if such claim was not made in last six years.
For example , if you find that you forgot to claim refund for Asst Yr2003-04 , you can file the petition to condone the delay in filing of return and claim of refund to Commissioner or Chief Commissioner or CBDT till 31/3/2010 according to value of refund involved.
Important points
The important points of the scheme as per the CBDT instruction no 12/2003 Date : 30.10.2003 is as under
1. The petition is to be made to u/s 119(2)(b) of the I T Act.
2. The power to condone delay in claim of refund is as under
i. With CIT upto Rs 1,00,000
ii. With CCIT upto Rs 5,00,000
iii. With CBDT claim exceeding Rs 5,00,000.
3. No interest u/s 244A is allowed.
4. Refund should be on account of TDS or TCS or Advance Tax. It means that self assessment case is not covered under this .
5. Income of the assessee should not be assessable in the hands of any other assessee.
6. If the return is being filed for first time , the CIT may order that the refund should be issued only after scrutiny order u/s 143(2) is passed by the A.O.
How to make the claim?
Following steps should be followed
• Write an application u/s 119(2)(b ) of the I T Act stating clearly stating why you could not file return or claim refund.
• Enclose evidence in support of your claim.
• Enclose evidence of your TDS /TCS or Advance tax deposit.
• Clearly state the computation of your income and tax for that year.
Once the CIT or CCIT or CBDT makes an order condoning the delay u/s 119(2)(b) of the I T Act , the A.O will give refund .

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