Whether tds is refundable?

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)
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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)
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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)
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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.