Hi, I have received intimation u/s 245 stating that I am due for refund of INR xx amount and earlier AY demand for INR yy is pending against me. However the net is that I am supposed to receive the refund xx being higher that yy. This notice is dated 21-Jun-2011. however till date no refund is credited to my account. Can someone advice if this is common, how much time will this refund take and if I am suppose to take any action against this intimation.
If the amount of refund due to you is correct given in the intimation u/s 245, then wait. Usually, the IT dept waits for the reply from the assessee if the later disputes the amount of refund and/or demand. Wait.
Any approx. timeframe to wait or expect the refund. Also what are the chances that returns will get into any scrutiny again.
Section 245 Applies for setting off Refund against Income Tax Demand Pending , So this is not refund order but intimation of set off . How ever you have to find out under which section demand or refund order is made , accordingly section will apply, normally priliminary orders are subject to re-assessment .
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