How To Get The Refund You Forgot To Claim
9 views
Skip to first unread message
Sukumar
Apr 8, 2008, 1:00:45 AM4/8/08
to Kences1
There are many circumstances in which a person may forget to claim the
credit of tax deducted at source. This is specially true of the cases
where a person is either not supposed to file return of income as most
of income is exempt , but some kind of TDS has been made or a person
is ignorant about claiming refund of TDS/TCS . In all such cases ,it
is possible to claim refund by filing condonation petition u/s 119(2)
(b) of the I T Act even if such claim was not made in last six years.
For example , if you find that you forgot to claim refund for Asst
Yr2003-04 , you can file the petition to condone the delay in filing
of return and claim of refund to Commissioner or Chief Commissioner or
CBDT till 31/3/2010 according to value of refund involved.
Important points
The important points of the scheme as per the CBDT instruction no
12/2003 Date : 30.10.2003 is as under
1. The petition is to be made to u/s 119(2)(b) of the I T Act.
2. The power to condone delay in claim of refund is as under
i. With CIT upto Rs 1,00,000
ii. With CCIT upto Rs 5,00,000
iii. With CBDT claim exceeding Rs 5,00,000.
3. No interest u/s 244A is allowed.
4. Refund should be on account of TDS or TCS or Advance Tax. It means
that self assessment case is not covered under this .
5. Income of the assessee should not be assessable in the hands of any
other assessee.
6. If the return is being filed for first time , the CIT may order
that the refund should be issued only after scrutiny order u/s 143(2)
is passed by the A.O.
How to make the claim?
Following steps should be followed
Write an application u/s 119(2)(b ) of the I T Act stating clearly
stating why you could not file return or claim refund.
Enclose evidence in support of your claim.
Enclose evidence of your TDS /TCS or Advance tax deposit.
Clearly state the computation of your income and tax for that year.
Once the CIT or CCIT or CBDT makes an order condoning the delay u/s
119(2)(b) of the I T Act , the A.O will give refund .
N.Sukumar
Research Analyst
www.kences1.blogspot.com
credit of tax deducted at source. This is specially true of the cases
where a person is either not supposed to file return of income as most
of income is exempt , but some kind of TDS has been made or a person
is ignorant about claiming refund of TDS/TCS . In all such cases ,it
is possible to claim refund by filing condonation petition u/s 119(2)
(b) of the I T Act even if such claim was not made in last six years.
For example , if you find that you forgot to claim refund for Asst
Yr2003-04 , you can file the petition to condone the delay in filing
of return and claim of refund to Commissioner or Chief Commissioner or
CBDT till 31/3/2010 according to value of refund involved.
Important points
The important points of the scheme as per the CBDT instruction no
12/2003 Date : 30.10.2003 is as under
1. The petition is to be made to u/s 119(2)(b) of the I T Act.
2. The power to condone delay in claim of refund is as under
i. With CIT upto Rs 1,00,000
ii. With CCIT upto Rs 5,00,000
iii. With CBDT claim exceeding Rs 5,00,000.
3. No interest u/s 244A is allowed.
4. Refund should be on account of TDS or TCS or Advance Tax. It means
that self assessment case is not covered under this .
5. Income of the assessee should not be assessable in the hands of any
other assessee.
6. If the return is being filed for first time , the CIT may order
that the refund should be issued only after scrutiny order u/s 143(2)
is passed by the A.O.
How to make the claim?
Following steps should be followed
Write an application u/s 119(2)(b ) of the I T Act stating clearly
stating why you could not file return or claim refund.
Enclose evidence in support of your claim.
Enclose evidence of your TDS /TCS or Advance tax deposit.
Clearly state the computation of your income and tax for that year.
Once the CIT or CCIT or CBDT makes an order condoning the delay u/s
119(2)(b) of the I T Act , the A.O will give refund .
N.Sukumar
Research Analyst
www.kences1.blogspot.com
Reply all
Reply to author
Forward
0 new messages