Income tax refund shortage

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aaassipl

CFO

91 Points Posted on 21 November 2014

Dear experts,

Actually last year we have filed the IT returns for our company for the F.Y.2012-13. For that we had received the refund amount of Rs.27,550/- only, where Rs.74,751/- is shortage. When we analyzed its intimation letter and 26AS statement for the F.Y.2012-13, we came to knew that the mistake was held while taking the Tds values into calculation by the IT department i.e., in 26AS statement, Our Tds amount shows the value of Rs.3,88,038/-, whereas in the IT intimation letter, they have taken the Tds value as Rs.3,13,287/- only. I.e, there itself Rs.74,751/- is shortage. Hence our refund amount also Rs.74,751/- is shortage. Hence please kindly guide me step by step procedures to be followed to get back the shortage amount from the CPC.

Please kindly help me seniors and looking forward for your earliest reply.

Thanks ,
Maya.
aaassipl @ gmail.com

Replies (4)

Mihir

Wealth Manager

5358 Points Posted on 22 November 2014

You may file rectification u/s 154 to make the corrections.

aaassipl

CFO

91 Points Posted on 22 November 2014

Thank you very much for your earliest reply. Will you plz kindly let me know the step by step procedures to be followed to do the rectifications. Thanks / Maya.

Mihir

Wealth Manager

5358 Points Posted on 23 November 2014

You may visit website of incometaxindiaefiling and login to view the option of rectification. The site will then guide you to fill in the details.

aaassipl

CFO

91 Points Posted on 09 March 2015

Thanks for your reply. I tried the rectification process in the IT website. In that, I chose "Tax payer is correcting data for tax credit mismatch only" option on the screen. When I selected the first option, it allows to rectify only 10 companies entries. But we have 15 nos. to be rectified in the list. And one more doubt….. whether we have to feed all the clients Tds list or only rectifiable clients Tds list? So how to feed the entries ? Plz help us. Earliest reply would be greatly appreciated. Thanks / Maya.