Incoime tax refund

Sir

the advice given by your bank staff was totally a foolishness. It's quite obvious that if you select A.Y:2011-12 the tax paid will be credited for the same assessment year and not A.Y: 2012-13.

Sir please don't mind but I really don't understand how u made such mistake.

But not to worry it's not a big deal.

Firstly, When you were paying tax on 31st march 2012 you should have selected advance tax instead of Self assessment tax if your bank software was not accepting.

Also Self Assessment tax means any balance tax paid by the assessee on the assessed income after deducting TDS and Advance tax before filing the Return of income. 

Hence Self assessment tax cannot be paid unless the F.Y to which it relates has passed. if you tried paying self assessment tax on 1st april i think there would have been no problem with the payment.

Secondly, To make correction in the challan you will now have to intimate A.O and request him to credit the same in A.Y: 2012-13

Regards

hi Mahesh,

Thanks for your promt reply. Yes i understood the mistake. Adding to your reply i found we could use this for correction in challans https://www.incometaxindia.gov.in/archive/LeftMenu_ChallanCorrectionMechanism_26082011.pdf, directly we can get it corrected from the bank.