Tds deducted

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2011 HELLO EVERYONE
I HAVE RECEIVED AN AMOUNT OF 40000 FROM THE CENTRAL GOVERNMENT ON 30-11-2011 AND DEDUCTED TAX @1%FOR PERMORMANCE OF CONRACT.
TODAY 8-8-2011 I RECEIVED TDS CERTIFICATE
IN FORM 16A
I HEARD THAT TDS DEDUCTED BY THE GOVT IS REFUNDED IS IT CORRECT.

TX IN ADVACNE

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

09 August 2011 For getting refund you have to file Income Tax Return the fee of which may exceed the
refund you will get.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

09 August 2011 TDS will be adjusted with your Income tax payable and balance excess if any will be refunded by the department

Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2011 sir till today i hve not paid any tax its a job performed on contract basis and i recived the amt and taxed

sir i want to no whether TDS deducted by govt is refunded

Rabindra Kumar Sahu

Rabindra Kumar Sahu (Expert)

10 August 2011 Dear Member,
As you have mentioned that you have received an amount on 30.11.2011 and you have received certificate on 08.08.2011.How is it possible?How can you receive certificate for payment of future date.You must be refunded if your taxable income is below taxable limit.You no need to worry about this.

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