Dear experts,
One of my client paid TDS in FY 15-16 under 194I but the rent agreement was cancelled due to some dispute between the two parties. My query is whether he can claim refund of the TDS paid? TDS amount is approximately 1.5 L.
Client has closed his business last year.
If he can not claim due to time barrier, whether we can file appeal against the same?
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TDS excess paid refund AY 2016-17
Replies (4)
Quick Summary
Tax laws and procedures can vary, and it's crucial to consult with a tax professional or legal advisor for advice specific to your client's situation. However, I can offer some general considerations:
Time Limit for TDS Refund:
In India, there is a time limit for claiming a refund of excess TDS (Tax Deducted at Source). Generally, the time limit for filing a TDS refund claim is within two years from the end of the financial year in which the tax was deducted.
For the financial year 2015-16, the deadline for claiming a refund would typically have been by the end of the financial year 2017-18.
For further more detailed information on this topic visit: Tax Deducted at Source (TDS): Key Provisions and Significance
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@ M.J,
Is there any notice received from Income Tax...???
Is there any notice received from Income Tax...???
Wondering why they didn't claim tds for all these years... tds is normally claimed in the next year while filling returns.
musrath sis answer is apt.
musrath sis answer is apt.
@ RAJA
Not yet received any notice.
Not yet received any notice.
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