Tax Adjustment and previous returns.

[dilljan2001]

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.

[skhkhurram]

As per My little Knowledge you can not claimyour refund without permission of commisioner.

for claming your refund you have to file application b4 comisoner for claim of refund if he allow thn you can. otherwise you cant claim refund.

am i right my seniors

[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.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

[dilljan2001]

<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by student_of_law</i>
<br />
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.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">Our Corporation deduct our taxes and give us tax return but not help us in refund of excess tax deduction.