I am a salaried employee. I had initially filed ITR1 and there no refunds or anything to claim vis-a-vis my Form 16. My tax paid is in the range of 5L. However, a CA who is known to me, suggested a clause under 10(14)(i) &(ii) can help me get a refund of around 2L. He is claiming that these clauses allow for considering tax exemption owing to the cost inflation index. How is this possible?
First thing cost inflation index was for Capital Gain not salary income. Also it is not possible to claim such a high refund even not mentioned in form 16. This type of queries generally need to check thoroughly through documents.
CAclubindia
