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Hardik Parikh | Answer |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

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.

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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.

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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.

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Asked by Anonymous - Sep 06, 2023Hindi

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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.

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Asked by Anonymous - Jul 24, 2024Hindi

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I have recieved the amount from the Govt. For Land acquisition. For that they have deducted TDS of 10% in AY2023-24. I have missed to file ITR and claim TDS refund. Can i claim refund now?

Ans: You may file ITR-U & claim your TDS.

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Question by Rajesh - Apr 24, 2026Hindi

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my son has got 96.51 percentile and 54882 rank in general and home state madhya pradesh. kindly suggest for nit and iiit.Also suggest private college

Ans: Rajesh Sir, With your son's rank, securing a CSE seat in NITs or IIITs is highly unlikely, as recent JoSAA data shows that closing ranks for top and mid-tier CSE programs are much lower. Even many ECE seats at IIITM Gwalior close well before this rank. Realistically, government college options would be limited to lower branches in newer NITs or GFTIs, or ECE/IT-type branches in select newer IIITs, rather than CSE at better institutes. For Madhya Pradesh, IIITM Gwalior remains an option for non-CSE branches, but CSE is out of reach at this rank. Additionally, please review the JoSAA opening and closing ranks from the last 2-3 years to gain further insights and better understand admission trends.

As backup, strongly consider private colleges such as VIT Bhopal, LNCT Bhopal, SGSITS Indore, and other private CSE programs in MP, which offer broader admission ranges and better practical chances. ALL the BEST for Your Prosperous Future!

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Question by Sreenivas - Apr 24, 2026

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Hello Sir, My son got 23,568 AIR in JEE Mains and 98.652 percentile. We hail from Telangana state. Please let us know whether my child can secure a seat NIT warangal in either ECE or CSE or please let us know the top IIITs where he can secure cse or ECE seat. Thanks & Regards Sreenivas Chittiprolu

Ans: Sreenivas Sir, Your son might get NIT Warangal ECE Branch, but CSE is extremely unlikely at AIR 23,568. NIT Warangal’s 2024 open-category closing ranks were about 1,899 for CSE and around 4,979–5,099 for ECE, while 2023 last-round cutoffs still stayed well within the low thousands for these branches. So, for a Telangana home-state candidate, ECE at NIT Warangal is possible only if the final round stretches, but CSE is not realistic. For top IIITs, CSE is generally too competitive, but ECE may be possible in newer or mid-tier IIITs such as IIITs in Guwahati, Sri City, Kota, Sonepat, Una, or similar depending on round and category trends. Additionally, please review the JoSAA opening and closing ranks from the last 2-3 years to gain further insights and better understand admission trends. If possible and desired, consider selecting 2-3 reputable engineering colleges as backup options through State Engineering Counselling, especially if your son is primarily targeting the CSE or ECE branches. ALL the BEST for Your Son's Prosperous Future!

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My percentile is 93.88 in jee mains can I get admission in any nit or iiits ?

Ans: Moderate Chances with lower NITs and newly formed IIITs with lower branches. Keep other options as a backup.

Good luck.
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My jee mains crl rank was 40905, what should I choose between mechanical in nit Hamirpur or cse/ece in iiits like kota/pune/Vadodara/nagpur/sri city

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Career Counsellor - Answered on Apr 24, 2026

Asked by Anonymous - Apr 23, 2026Hindi

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sir i got 49360 rank in jee main in ews cateogry and crl rank is 325000 can i get iiits or nits or gfits in cse

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Question by Kartikeya - Apr 23, 2026Hindi

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Hello sir I got 47919 ews rank and I am from uttar pradesh will I get Cse in any up colleges through home state quota in csab or uptac like hbtu in my city kanpur or iet Lucknow?

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Better backup options include pursuing other branches such as Electrical Engineering, ECE, Mechanical, or Chemical at HBTU, IET, or other UP government colleges. Alternatively, you may consider private colleges in Uttar Pradesh through UPTAC for CSE, AI, or IT programs. If securing a government seat is a priority, it is advisable to focus primarily on non-CSE branches and treat a branch change as a secondary option. ALL the BEST for Your Prosperous Future!

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Ans: Chances of CSE/ECE @ Top NITs/IIITs are Nil. Target good private universities like VIT or SRM and consider state govt colleges in Telangana via the board quota.

Good luck.
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Hello Sir, My son (Genral from Mumbai)got 32176 rank in Mains Would like to pursue ECE or EEE/EE Branch Please suggest good option for Lower NIT Or IIITS Also guide lower NIT EE Vs IIIT ECS HOWS IIIT nagpur or Surat

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Good luck.
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I am applying for thapar IEP programs but i have a very low jee percentile (53%ile) and i have 60% in boards in PCM, do i stand a chance of getting in a thapar 2+2 program? i am aware that the cutoffs for these programs would go low but i am afraid that my score is too low to clear even the IEP cutoffs

Ans: Chances are low but not zero. But keep other options ready as a backup. It is advisable to consider other options other than Thapar, which is fairly costlier than the others.

Good luck.
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Radheshyam

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Question by Akhilesh - Apr 24, 2026Hindi

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I m from kanpur nagar uttar pradesh My son got 70469 rank in jee mains with general category What option available like nit or iiit

Ans: Try with lower NITs/IIITs for less-demanded branches or consider good state/private colleges as backups.

Good luck.
Follow me if you receive this reply.
Radheshyam

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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.

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