Last year I've paid extra around Rs. 3700 as tax unknowlingly due to lack of proper financial planning. Now I want to get the excess amount back from the Income Tax department. How should I go ahead? Please help.
ARM (Manager) (24 Points)
14 June 2012Last year I've paid extra around Rs. 3700 as tax unknowlingly due to lack of proper financial planning. Now I want to get the excess amount back from the Income Tax department. How should I go ahead? Please help.
Sarvesh Kumar Singh
(Student CA Final (Articled Asst.))
(170 Points)
Replied 15 June 2012
Check your TDS, Advance Tax & Self Assessment tax details through Form 26 AS, because if the tax credit claimed by you in your ITR did not match with the Form 26 AS then Income tax Department will not refund the excess income tax paid by you.
If your tax credits matches with the Form 26 AS then just write a letter to the Commissioner of income tax giving full particulars about your ITR & refund amount for getting refund.
Rammohan
(NA)
(245 Points)
Replied 17 June 2012
If you have filed your Income-Tax Return for the relevant assessment year enclosing proof of tax payments and TDS certificates to your ITO, then you have to follow-up with the ITO for your refund of the excess tax paid. This may take time depending upon the speed with which your ITO disposes of cases. If you dont get your refund within say 2 years of filing the return, please follow-up regularly with written reminders and retain their acknowledgements.
You would be entitled to receive interest on the refund due along with the refund amount.
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