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How to claim refund of excess tax paid

Tax queries 3935 views 5 replies

 I am Sandeep Sinha, working as junior accountant. In 2007-2008 F.Y, I had deposited Rs 11250/- as an advance tax which is excess to the taxable amount. How could i get refund this amount and what is the procedure to claim refund.

Please suggest me, I really need your suggestions.

Replies (5)

hi dear

you can adjust excess amount from next month tax

 

 Sir, 

I had paid it in the year 2007... now how could i adjust it ?

our tax consultant is deliberately  delaying the matter and my proprietor is on fire..I really dont know the process and facing difficulties to sort it out.

Is there any way to get refund it.

Dear Vikas the excess amount paid on Account Of ADVANCE TAX was paid for the period pertaining to 2007, once you have file your return of income the department will have to assess your income and compute your Tax Liability at it's end and refund you the excess of tax paid. So wait for the assessment order from the department.

I'm not an expert in this, but I guess, you (Sandip Sinha) don't have to do anything to get the refund of the extra tax you paid. The IT dept. will verify your IT returns, and if you've paid more tax than what was required, they will send the remaining amount to your bank account, which you would have mentioned at the time of filing the IT returns. If you did not mention your bank account details, then they will send you a letter asking for your account details, so that they can send the amount to that account. I think all this happens within 6 months after you've filed your IT returns. I'm saying this, based on my personal experience.

Dear Mr. Sandeep,

 

Once the Return of Income is filed the ball is in Income Tax Department court. However you can strike one chance by submitting the attached form 30 "Form for claim of Refund" which is prescribed by rule 41 to try once.

 

Thanks and Regards

Juzer Sadikot


CCI Pro

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