Tax Adjustment and previous returns.

[student_of_law]

When you furnish return, by virtue of s.120, it is taken as assessment order made by the Commissioner for all the purposes of the Ordinance.

So if your tax year 2010 return shows refund, you can treat is as assessment order made by the Commissioner and entitling you to refund.

So in tax year 2011 you may adjust last year's refund against current liability

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by dilljan2001</i>
<br />My dear friends, my tax was deducted in excess in the year 2008-2009. Amount was Rs.10000 and was not refunded and adjusted, even i gave my bank account and branch name for refund in my return for the year 2009-2010. Can i fill that amount in the adjustment columns of this year income tax return.MY corporation has shown Rs.2100 payable amount in the return to be submitted by me before 21st Nov 2011.
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