Wrong receipt of Tax refund

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Sreedhara Murthy

21 Points Posted on 12 November 2015

I helped my friend to file return of Income Tax for AY 2015-16 online (Quick Return) before due date. Inadvertently he dictated the amounts from Form 16 for AY 2014-15. This resulted in a refund claim of around Rs.49,000/- and he has received refund cheque of Rs.51,210.10 (including interest).

When we tried to do rectification we saw the figures correctly as per Form 16 for AY 2015-16 and it was not showing the refund.

Now is it okay if he remits back the refund amount by Tax challan No.280 as self assessment?

Please let me know anything else is to be done.

Replies (3)

S. Shiroor

Others

1321 Points Posted on 12 November 2015

He must have dictated from FY2014-15 . Please see 26AS though efiling. See tax credits for AY 2015-16. OR You must have filed for AY 2014-15.

On the opening screen click on ack. down full pdf file of return for both AY 2014-15 and AY 2015-16. it appears really mysterious to me.

Rohit Tulshyan

RTProfessionals

197 Points Posted on 12 November 2015

Please check the calculations again. See your new tax liability. File the return. Then pay taxes as per assessment order. Then you should pay taxes under head 400 tax on regular assessment. There are provisions that you have to.pay interest if excess refunds have been granted. I am telling from my personal logic. I never came accross situation like yours.

Udgam Koomar

Tax Technologist

2037 Points Posted on 12 November 2015

please check the details. if there was no taxes paid as per form 26as then how will they make a refund? Rather they correct it if you have done it wrong. Check details again as per form 26as