Tds deducted by company and issued form 16a

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This query is : Resolved

Gurmukh Singh (Querist)

09 August 2014 I am working as a sole owner of the firm. my firm is registered and i have taken franchise of mobile company and mobile co. provide me commsion on recharges etc.. and now i get my form 16A from the company.

company deduct my tds @10% now which ITR from i can fill for my ITR..

and my total tds is more than 50000/- and my firm's profit income is 150000/- now what procedure i have to followed to fill my ITR whether my extra tds is refundable to me or not?

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)

09 August 2014 Hi Gurmukh,

Yes you can claim TDS refund, by filing ITR.

Regards,
CA. Devanand
dev_ca08@yahoo.com

CA UMESH DULAL

CA UMESH DULAL (Expert)

09 August 2014 If your final tax liability is less the amount of TDS deducted, you will get refund of TDS. But you have to file the ITR.

Make books of accounts and file ITR 4

Rupesh Jain

Rupesh Jain (Expert)

09 August 2014 you have to file return in ITR-4 and then you can file return and claim the TDS amount and also check your 26AS before filing of income tax return.

mahesh

mahesh (Expert)

09 August 2014 U need file ITR 4 before September 31st.

As ur tax liability is less than TDS, ur eligible for refund.

Please refer ur Books of accounts and file ur ITR4.

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