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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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Tax Expert - Answered on Sep 08, 2023

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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Tax Expert - Answered on Jul 29, 2024

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 Chidambaram - Jan 02, 2026Hindi

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Dear Sir, Im 53 yrs old now, i would like to know, in SBI Life Policies, what are the best beneficial wealth policies as well as with Sudden Death Protection, which suits my age and income source salary is 10L /Annum.. thanks, from Chennai

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Question by Venkatesh - Feb 19, 2026Hindi

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Ans: If it is a one time insurance premium then Insurance company refunds the pro-rate premium charged for future period of loan being shifted to other Bank. If premium is regular premium then there is no problem and you can have a new policy with the Bank where you have shifted the loan. This is the normal practice. Rest you enquire from your Banker.

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I don't believe in marriage but my partner does. He is 37, I am 32. We have been dating for 12 years and known each other as friends. Every time one of our friends get married, he tells me we should get married too. It sounds cute to my friends and family but I don't feel the need for it. We are good as a couple, we are there for each other. Everyone I know is aware that we are a couple. I don't mind moving in with him. But marriage is very complicated. I don't want that label to ruin what is beautiful between us. How do I convince him that we can love each other without getting married?

Ans: Dear Anonymous,
You are right, it is entirely possible to love each other forever without labelling it as a marriage but he is also right to want a commitment that is on paper as well. This is one of those situations where neither of you is wrong. You can try and explain your side in case your partner gets serious about getting married, but trying to convince him to give up what he wants is not fair. It is a tricky situation but I believe that clear communication from right now can dodge some unnecessary complications which might arise once your partner doesn’t just say “we should get married too” and moves on to “will you marry me?” Please have an open discussion about your views on marriage and his, and try to find a middle ground so that your relationship does not get affected.

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Hello sir Maine 2022- physics chemistry maths without English complete Kiya (UP BOARD) 2024- private se english kiya (UP BOARD) Uske baad mujhe neet dene ka man hua to 2026- is year BIO private (Up Board) se kar rha hu exam feb me ho gaye hai abhi march me neet ka form aagaye hai , kya mai eligible hu Filhal maine jee mains dekar 2023 me btech me admission liya tha abhi mai 3rd year me hu , mai neet dena chahta hu please clear and correct bataiye

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Asked by Anonymous - Mar 07, 2026Hindi

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Stock Market Expert - Answered on Mar 09, 2026

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What is the prospect of ICICIAMC Stock ???

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Ans: Before addressing your question, I’d like to share something from my experience working with students and parents. Choosing a career similar to your father’s is perfectly fine—but only if you are genuinely passionate about the financial investment field. It should be your interest, not just a family expectation. Now, let’s come to your question.
Go for Certified Financial Planner (CFP) to excel as a mutual fund distributor like your dad. CFP focuses on client financial planning—perfect for selling funds, building trust, and growing your practice in India—while CFA dives deep into investment analysis better for portfolio management jobs. CFP is quicker (months vs. years), cheaper, and directly boosts distributor credibility with clients and Asset Management Companies like HDFC, SBI, etc. First, pass NISM V-A: Mutual Fund Distributors Certification Examination (mandatory, easy entry post-12th) of the National Institute of Securities Markets. However, you must possess the following key skills: communication to explain funds simply, financial acumen for product picks, and also relationship-building for repeat business. ALL the BEST for Your Prosperous Future!

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i passed my 12th hsc (pcb) in 2024 without maths, and this year as in 2026 i appeared for maths isolated in hope that i would be eligible for maths based courses in all the IISERS. And i saw one of my friends’ isolated subjects’ marksheet and it doesn’t show that she had pcb or that she has given boards in 2024, it just shows maths without any percentage. So now that while filling my application i would say i’m appearing cause i’m still waiting for my maths results, my question is would it be enough for me to upload my isolated marksheet when my result comes or would i not be eligible for any IISERS at all. And that how would they know that i gave pcb subjects in 2024?

Ans: Yes, you're eligible for all IISERs. Upload both your 2024 PCB marksheet and isolated Maths marksheet (as improvement/additional) in the application. IISER verifies subjects via uploaded documents, not the marksheet alone. ALL the BEST for Your Prosperous Future!

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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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