Excess payment as against provision

CA Shashikumar PN (Consultant - Taxation) (264 Points)

22 November 2012  

Hi, can anyone confirm me along with refrence to IT Act ,

Following is the status in 43B item

Pre existed liability as on 01.04.11 - Rs.4 crore

Amount incurred during the year - Rs.2 crore

Amount before filing of returns - Rs.2.55 crore

Not paid on or before the due date(30.11.12) - (55 lakhs)

Now, whether we can claim this excess payment of Rs.55 lacs in return of AY 12-13,,?? Is it restricted to provision made??

Thanks in advance.