REFUND AY 2008-09 WITHOUT MATCHING TDS-ORDERED
Some Times Inefficiencies of Income Tax Department also pay you,Don't you think so ,Lets read the following Instructions issued by Income Tax department issued to its offices .As per Following Instruction.Department has directed his officers to issue refund for Ay 2008-09 without matching the TDS data uploaded by Deductor through ETDS return and data as per Income tax return filed by the assessee, subject to sum conditions.
- These instruction are applicable only for returns for assessment year 2008-09 in which total total TDS(tax deducted at source) claimed is up to Rs 400000/- and
- Further In case of ITR-1 and ITR-2 Means in case of assesses who has no income from business and profession ,refund amount claimed should be up to Rs. 25000/-
- In case of assessees Other than ITR-1 and ITR-2 ,then claim of Refund should be up to 25000/- and 70% of the entries of TDS must be matched with data uploaded by Deductor(s).
Clearly these instructions has been issued due to clear the back log and inefficiency of the department to get it clear from the deductor.But its a Good News for assessees whose refunds are pending for a period.overall good step.
Processing of returns of A.Y. 2008-09 - Steps to clear the backlog
Instruction No. 1/2010, dated 25-2-2010
The issue of processing of I.T. returns for the A.Y. 2008-09 and giving credit for TDS has recently been considered by the Board and following decisions have been taken, in order to clear the backlog of returns pending for processing:
i) In all the returns filed in ITR-1 and ITR-2 for the A. Y. 2008-09, where the aggregate TDS claim does not exceed Rs four lakh and where the refund computed does not exceed Rs.25,000; the TDS claim of the tax payer concerned should be accepted at the time of processing of return.
ii) In all the returns filed in forms other than ITR-1 and ITR-2 for the A. Y. 2008-09, where the aggregate TDS claim does not exceed Rs four lakh and the refund computed does not exceed Rs.25,000, and there is 70% matching of TDS amount claimed, the TDS claim of the tax payer concerned should be accepted at the time of processing of return.
iii) In all remaining cases, TDS credit shall be given after due verification.
As we all Know that all the returns now annexure less ,and its difficult for department to verify the TDS amount without TDS certificates ,Further information uploaded by deductors is also not up to mark .so the above step is in right direction ,As the assessee has no fault of there own but should not be penalised for the other faults(deductors fault)
Instruction for matching the data has been issued for filing of the return has been reproduced here under
Since no documents are required to be furnished along with the return of income, the credit for Tax Deducted at Source (TDS), Tax Collected at Source (TCS), advance tax and self assessment tax (hereinafter collectively referred to as ‘pre-paid taxes’) shall be allowed on the basis of information relating to pre-paid taxes furnished in the relevant schedules of the return forms subject to matching with the information provided by the deductor, collector and the banks. Therefore, tax payers are advised to ensure that the information relating to pre-paid taxes is complete in all respect and correct. With a view to enabling the matching of information relating to pre-paid taxes furnished by the tax payers, the Income-tax Department has created a system of Unique Transaction Number (UTN) and Challan Identification Number (CIN).Assesses must ensure that the deductor and the collector have provided them with separate UTNs in respect of each TDS and TCS transaction. Similarly, they must also ensure that the UTN for every TDS and TCS claim in the return is correctly filled in. Similarly, they must ensure that they correctly fill in the CIN in respect of payments of advance tax and self-assessment tax. Further, no disallowance of claim for pre-paid taxes shall be made by the Assessing Officer only on the ground that the TDS/TCS certificates and challans have not been furnished along with the return of income or Form ITR-V.
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