Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

Hardik Parikh |106 Answers |Ask -Follow

Tax, Mutual Fund Expert - Answered on Jul 29, 2023

Hardik Parikh is a chartered accountant with over 15 years of experience in taxation, accounting and finance.
He also holds an MBA degree from IIM-Indore.
Hardik, who began his career as an equity research analyst, founded his own advisory firm, Hardik Parikh Associates LLP, which provides a variety of financial services to clients.
He is committed to sharing his knowledge and helping others learn more about finance. He also speaks about valuation at different forums, such as study groups of the Western India Regional Council of Chartered Accountants.... more

Question by Subir on Jul 29, 2023Hindi

Listen

Money

can i claim tds refund on revised return

Ans: Sure, Subir. You can indeed claim a TDS refund when you file a revised return. If you've discovered that there were errors in your original return and you've paid more tax than you should have, you can file a revised return to correct these mistakes.

The Income Tax Act of 1961, Section 139 (5), permits taxpayers to file a revised income tax return if they've made errors in the returns filed earlier. If the actual tax payable is not equal to the TDS, you need to calculate your income and taxes and file Income Tax Return (ITR) to claim TDS refund.

However, please note that you can only revise the return if the original one was filed on time. Belated returns cannot be revised.

Once your revised returns are processed, if there is any excess tax paid by you, it can be claimed as a refund. The refund will be credited to your bank account through ECS transfer.

I hope this answers your question.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

MoneyReply

You may like to see similar questions and answers below

Anil Rego |388 Answers |Ask -Follow

Financial Planner - Answered on May 31, 2021

Question by Tarvinder - May 31, 2021Hindi

Listen

Money

I'm working in corporate industry and TDS is deducted based on the new slab in this financial year, can I change the slab to old slab at the time of filing IT return and get the refund?

Ans: Yes. In case an employee does not choose the tax regime at the beginning of the financial year, the employer will deduct tax (TDS) under the existing tax regime. A salaried taxpayer can opt-in and opt-out every year. That means you can choose the new tax regime in one year and choose the regular tax regime in another year. They need not declare or intimate their choice to anyone at any time during the year.

You can always change between the new and old tax regime while filing your returns.

Mihir Tanna |1051 Answers |Ask -Follow

Tax Expert - Answered on Mar 17, 2023

Question by Ramesh - Mar 14, 2023Hindi

Listen

Money

I have sold my house for which the buyer has deducted TDS of Rs.80000/- in March 2023.However I will also deduct TDS OF Rs.125000/- in April 2023 on my purchase of property.Please let me know whether I can claim TDS of refund TDS of Rs 80000/- in my income tax return for the financial year 1922-23 since I have purchased the house but TDS will be recovered in April end.

Ans: Yes, refund can be claimed if gain amount is invested in another property on or before filing of income tax return and tax liability is NIL for income computed for FY 22-23.

Mihir Tanna |1051 Answers |Ask -Follow

Tax Expert - Answered on Sep 08, 2023

Asked by Anonymous - Sep 06, 2023Hindi

Listen

Money

I understand that it takes upto three months, after filing of return for TDS to be refunded. Is that the case, even if the return has been revised subsequently?

Ans: I understand that your query is pertaining to original ITR wherein higher amount of TDS is claimed as refund and in revised ITR, lower amount of TDS is deducted. If return is processed and refund is issued before filing revised ITR; Tax amount pertaining additional TDS will be required to pay with interest, as applicable.

Latest Questions

Dr Dipankar Dutta |1195 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 03, 2025

Asked by Anonymous - May 03, 2025

Career

My daughter as got jee mains 90 percentile, her puc board in karanataka 97% and her kcet marks 126 , which branch is bestCSE or AI ML orAI&DS which college can she get in bangalore or in possible to get nit surathkal, we are in cat1 reservation and obc ncl in central pls guide me sir

Ans: Prefer CSE > AI & ML > AI & DS unless she is very focused on AI from the beginning.
With 90 percentile JEE Main (OBC-NCL & Cat-1): It’s difficult to get CSE or AI at NIT Surathkal, especially under the Other State quota.
Prioritize KCET counseling for Bangalore-based Tier 1 and 2 colleges where CSE or AI & ML are possible.

Dr Dipankar Dutta |1195 Answers |Ask -Follow

Tech Careers and Skill Development Expert - Answered on May 03, 2025

Asked by Anonymous - May 03, 2025

Career

Hey I scored about 97.62%tile and a rank of 36091 in jee main 2025. Initially I planned of considering mechanical engineering at IIITDM Kancheepuram. But now due to the availability of options I am also starting to consider ECE at IIIT Kottayam and IIIT Sri city. From previous year cutoffs' I am also getting branches like Civil and Biotech at top NIT's. At this point I am really confused on what to take and what not to. Initially i planned of doing my bachelors in mechanical and then masters in aerospace engineering. But that's a long way down. I do understand that in terms of placements Mechanical is not much preferred. But on the other hand ECE is a fast growing industry and I am sure placements would be nice if i consider it. I have discussed this with my parents and other people and they all have given me a free hand on the choice. Thus the real dilemma is whether to take Mechanical engineering and do masters, take ECE and consider placements or consider top NIT's over these? I would also like to mention that I am not really focusing on other upcoming exams thus these being my options.

Ans: If you're deeply passionate about Aerospace or Mechanical systems, and ready for a committed path toward higher studies, then Mechanical at IIITDM Kancheepuram is a justifiable and fulfilling choice.

If you're inclined toward industry-readiness and future flexibility, ECE at IIIT Sri City is safer and more versatile.

Radheshyam Zanwar |1591 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 03, 2025

Asked by Anonymous - May 03, 2025

Career

My daughter for BE which cource is best AIML or AI,DS higer package and good college in bangalore

Ans: Hello Dear.
AIML, AI, and DS are all computer-related courses and are interrelated to each other. The choice of course depends on the interest. Without having the interest, if someone chooses it, then the candidate also loses interest in earning. What your daughter thinks about these courses is more important. But to suggest, prefer AIML. Some of the top colleges in Bangalore are RVCE, PESU, BMSCE, and MSRIT. Best of luck to your daughter for her bright future.
Follow me if you like the reply. Thanks
Radheshyam

Dr Nagarajan Jsk |361 Answers |Ask -Follow

NEET, Medical, Pharmacy Careers - Answered on May 03, 2025

Question by anamika - May 02, 2025

Career

My son crl 74357..what is his chance of getting lnmiit jaipur.

Ans: Hi ma,
You have provided insufficient information for an accurate prediction.
with regards.
POOCHO. LIFE CHANGE KARO.

T S Khurana |461 Answers |Ask -Follow

Tax Expert - Answered on May 03, 2025

Asked by Anonymous - Apr 30, 2025

Money

Hi,I have lost job last year at the age of 53. I am currently not working anywhere. I have received Retrenchment Compensation from employer. Can I claim exemption from tax under Section 10(10B) .I am not sure if employer has shown it as retrenchment or not. Please suggest if I can show received amount as Retrenchment Compensation & claim income tax benefit.

Ans: 01. Please confirm :
(a). whether your employer has shown this amount as RETRENCHMENT COMPENSATION or as SALARY ?
(b). Whether any TDS has been deducted on this amount or not ?
02. Kindly note that Retrenchment Compensation is Exempt, subject to certain conditions, like your length of Service, actual Amount Received & subject to maximum limit of Rs.5.00 (L) etc.
Most welcome for any further clarifications. Thanks.

Kanchan Rai |583 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on May 03, 2025

Asked by Anonymous - Apr 30, 2025

Relationship

Hello I am in relationship with my maid as she is working in my house as she is widow we talk casually but sometimes physical touch will be there she will not say anything she is not that much qualified I don't know his age. Can I take this forward there will be huge complications in family after hearing this news. I am earning member but single.

Ans: You're in a sensitive situation that involves emotional, social, and power dynamics. While it's possible to build a genuine relationship with someone in a different social position, it's crucial to ensure it’s mutual and not based on dependency or silence.

Her not objecting to physical touch doesn’t automatically mean consent or emotional interest—she may feel unable to speak freely because of her job. Before taking things further, have an honest, respectful conversation. Ask her how she feels, without pressure, and make it clear her job is secure no matter what.

If feelings are mutual and genuine, and you're both ready to face potential family complications, you can move forward carefully. But emotional clarity and mutual respect must come first.

Kanchan Rai |583 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on May 03, 2025

Asked by Anonymous - May 03, 2025

Relationship

Hi ma'am plz I need a widow woman plz give me a contact number

Ans: sorry can't my post number here as per policy of platform
you can connect via social media
rai.kanchan is insta handle

Prof Suvasish Mukhopadhyay |607 Answers |Ask -Follow

Career Counsellor - Answered on May 03, 2025

Asked by Anonymous - May 03, 2025

Career

Dear sir, I have graduated from petroleum engineering in 2021. After giving 4 years to UPSC and state PCS, I want to start a fresh career so that I can earn. Please provide some suggestions on how to start afresh.

Ans: Apply for different competitive exams to join the oil sector, otherwise go for an M.Tech. Bye. Professor

Prof Suvasish Mukhopadhyay |607 Answers |Ask -Follow

Career Counsellor - Answered on May 03, 2025

Asked by Anonymous - May 03, 2025

Career

IIIT NAGPUR ECE OR MANIT BHOPAL CIVIL Which is best for both private and government sector jobs

Ans: This is a baseless question.If one ask you which is better CHICKEN TANDOORI or KAJOO BARFI what answer will you give?ECE and CIVIL are miles apart.You are highly confused,you don't know your choice and that will be dangerous for your future.Take professional counselling.

Milind Vadjikar |1205 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on May 03, 2025

Question by SATISH - May 03, 2025

Money

rediff.com Rediff Gurus Logo Hi SATISH MISHRA | Sign Out HealthHealth MoneyMoney RelationshipRelationship CareesCareer Ask your questions about health, money, relationship or careers here Ask Anonymously SATISH SATISH 3 Questions 12 Answers 0 Gurus 0 Bookmarks These questions will be answered soon. Not Answered yet SATISH Asked on - Apr 29, 2025 I have 10 L lump sum. I want to park it and then do STP. I have two debt funds Nippon liquid and Axis Short term fund, which one will be better to park for stp? How much time should be given to move this to equity by STP. I have Nippon and ICICI large cap, hdfc mid cap,Nippon multi cap and hdfc hybrid equity. Which would be better and how much stp every month? Or do I need to open one more fund for STP? Please guide me for horizon of 6 years

Ans: Hello;

Your query is very specific. I recommend you to consult an MFD or an investment advisor to get a bespoke solution to your query.

Best wishes;

See more questions »

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x