Hi all,
If an Assesse have a tax Refund from AY 2009-10 can he adjust it against Tax payable for AY 2010-11 .
If yes what is the procedure
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Adjustment of Refund against tax payable
Replies (2)
Dear Arun,
Tax paid cannot be adjusted (except MAT Credit).
Pls appreciate the provisions of Carry forward of Losses, which help to reduce future tax liabilty by reducing Taxable Income.
Thanks
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