I am a consultant for one organization. I have received the consultancy fee after deduction of TDS from that organization. My annual income is less than 1.6 lakhs. So I think it is not required to filling the IT returns by me. But how can I get the TDS Refund. It is any process to get the TDS Refund with out filling the IT return.
Kindly clarify me how can I get the TDS refund.
U have to file the IT return in order to get the TDS Refund.
There is no provision to get the refund without filing the ITR Return, for this A.Y u have to file the return but in future if your income does'nt fall in taxable slab, then you can provide Form 15G/Form 15H to the party, so that they will not deduct TDS from your payment.
Thank you Mr. Ashish Gupta and Mr. Vivek Angrish for your reply.
Regards
Kesav
Dear Mr. Vivek Angrish in your reply you can mentioned Form 15G/Form 15H.
Kindly give me the more details of Form 15G/Form 15H. Directly I can submit to the party or if any other process to submit to the party. Kindly clarify me, because of your reply is very help full to me.
Regards
Kesav
| Originally posted by : kesav | ||
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Dear Mr. Vivek Angrish in your reply you can mentioned Form 15G/Form 15H. Kindly give me the more details of Form 15G/Form 15H. Directly I can submit to the party or if any other process to submit to the party. Kindly clarify me, because of your reply is very help full to me. Regards Kesav |
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As per my knowledge, provisions of Section 197A do not allow the submission of declaration for non-deduction of tax from professional income. It applies only for Sec 193, 194A & 194EE. The basic requirement is that person's last year tax payable should be nil and current year's reciept are also below limit.
In simple words, you cannot avoid the TDS from the reciepts of professional income by submitting Form 15H or G. However, there is remedy available. You can apply to ur Assessing Officer in Form No. 13 for obtaining certificate for lower rate or nil rate for deduction of tax. You can apply to ur Assessing officer alongwith proof that previous year's tax was nil.
Other way is to file ur Income Tax return & get the refund of ur TDS.
Ya Vikrant Sir is right.
I am also agree with Vikrant sir. But my client was duducted TDS under section 194J.
Kindly confirm the Section 194J is avoid the TDS for applicable are not.
Ya Get The form 13 from ur Assessing Officer
Tds deduct for the safety of revenue by the govt from assessee, but if your income is less than exempted income but tds is deducted then you have to fill the return for refund of tds otherwise you have no option.
With the current budget provision, if your professional charges are going to be less than 30000 TDS need not be deducted.
if it is goint to exceed 30K You need to get form 13 from AO. If you do not provide form 13 and TDS is not deducted, entire expense will be disallowed for your client. This risk he will not take
I agree with vikrant sir
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