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TDS excess paid refund AY 2016-17

Others 310 views 4 replies

M. J.

Finance Professional

154 Points Posted on 23 December 2023

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?

Replies (4)

Musrath Shaik

175 Points Posted on 23 December 2023

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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RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 24 December 2023

@ M.J,

Is there any notice received from Income Tax...???

Sharath chandra

Accountant

1227 Points Posted on 24 December 2023

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.