Whether tds is refundable?

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2013 hello

i am salaried person geting salary of Rs. 300000 pa( having no other income). TDS is deducted from my salary from 2010. i want to know, can i claim TDS of f/y 2010-2011 & 2011-2012 by filling ITR?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

12 January 2013 You can calculate the tax for the each year and set off the TDS and balance you can get refund.

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2013 i want to ask whether TDS of f/y 2010-2011 can be claimed by ITR filed? there is panelty u/s 271f of rs. 5000 for filling return after end of relevant A/y?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

12 January 2013 Even belated return also you can claim your TDS deducted and also sec.271F apply for belated return

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2013 then what is advisable for me? should i claim tds or ignore that?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

12 January 2013 You can claim the TDS with filing income tax return for respective years and penalty can be paid only on demand from the department

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2013 ok.. thank u very much sir.