Rule 86B of GST rules

1. Income Tax paid by the company or firm is not considered. Only the Income Tax paid by the Director, Partner, or Proprietor is considered. 

2. Yes, TDS (Tax Deducted at Source) deducted and Advance Tax paid are considered as Income Tax paid.

 3. If TDS is considered as Income Tax, then yes, if the person has paid TDS more than ₹1 lac but claimed less in their

Thanks for the reply Sir.

Can you explain the 3rd query once again with some example. 

If TDS (Tax Deducted at Source) is considered as Income Tax, and the person has paid TDS more than ₹1 lac but claimed the whole TDS as Income Tax refund, then:

 1. The excess TDS paid (above ₹1 lac) will be treated as an overpayment of Income Tax.

2. The person may be eligible for a refund of the excess TDS paid. 

3. However, the refund will be subject to verification and approval by the Income Tax Department.

 4. The person may need to provide supporting documents and explanations for the excess TDS paid and claimed as a refund.

 5. If the refund is approved, it will be processed and credited to the person's account. It's important to note that TDS and Income Tax are two different things.

 TDS is a type of advance tax paid on behalf of the taxpayer, whereas Income Tax is the final tax liability of the taxpayer.

While TDS can be adjusted against Income Tax liability, it's essential to follow the correct procedures and report the correct information in the Income Tax return to avoid any issues or disputes.