Answers On Topic: Refund
  INTEREST ON REFUNDS U/S 244A(1A)
Assessment u/s 143(3) for asst year 2006-07 was made on 31/3/2008.Assessee paid demand determined.Notice u/s 148 was issued and 143(3)/147 order passed on 31/12/2009 and new demand raised.Assessee paid the demand within 30 days and gone to appeal.In appeal the CIT(A) gave major relief in 2012/ITAT gave major relief in 2015. Now the AO give appeal effect orders in FEBRUARY 2022 for both CIT(A) /ITAT ORDERS but interest u/s 244A/244A(1A) was given at 6 pc per annum. My query is whether interest u/s 244A(1A) of additional 3 percent interest per annum is applicable to assessee. Q 1)Why the same was…


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  Addition due to diffrence in receipts as per 26AS and disclosed in Profit and loss account Stay of demand
Assessee is company has filed the Return of Income for every year. Since assessee is engaged in the business of executing contracts , due to TDS there is always refund to the company. Almost every year assessment is completed U/Sec 143(3) by making an addition on the ground of difference in receipts as per 26AS and receipts as per profit and loss account since assessee could not give reconciliation.  Assessee submits that since it is company,  books of accounts are audited under co act as well as income tax Act and diffrence in mainly due to offering of income on…


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  Belated ITR
Regular NRI assessee due to technical reason could not file the ITR for A.Y. 2020-21. TDS is more than the tax liability. Whether in application U/s 119 of IT Act to CBDT for permission to file the ITR can be obtained? Is there any other alternative with the assessee?


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  Time limit to issue refund under VSVS Act 2020 by AO?
My form 5 under VSVS 2020 has already been issued by the department 4 months back granting me refund. The same has not been issued by the AO to us, even after 4 months of issuance of Form 5. Kindly update me with, what is the time limit for issuance of refund under VSVS 2020 & where we can file complaint against the AO? What is the process of filing a complaint against AO to PCIT for not issuing refund under VSVS 2020?


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  refund under Vivad se viswas Tax 2020
What is the remedy for non payment of refunds under  VSVT , 2020 ? Is it liable to any compensatory interest ?


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  HOW TO GET REFUND AS PER FORM 5 ISSUED UNDER THE DIRECT TAX VIVAD SE VISHWAS
WE HAVE RECEIVED FORM 5 UNDER DIRECT TAX VIVAD SE VISHWAS SHOWING TOTAL REFUND OF Rs.64,753/- ONLY BEARING ACKNOWLEDGEMENT NO. 806265520111220 FOR CERTIFICATE NO. 740533270231120 DATED 23-11-2020. BUT TILL NOW WE HAVE NOT RECEIVED THE REFUND AMOUNT. NOW WHAT SHOULD I DO TO GET THE REFUND AMOUNT.


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  Calculation of refund amount in case of inverted duty rate under GST
Where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on output supplies, refund can be applied under Section 54 of the CGST Act, 2017 read with Rule 89 of the CGST Rules, 2017. Please advise how wiil we calculate the eligible refund amount in the following case wherein at the end of the tax period there is closing stock much higher than the sale of goods. For Example Information Pertaining to Inward Supplies Particulars                    Value               Rate of GST     GST Amount Inward supplies            Rs 100…


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  Refund procedure in case of demerger
There is demerger of one undertaking (out of 3). Transferor co. paying Self assessment tax while filing pre-merger position return. Revised the return for post-merger position to be filed after receipt of NCLT order. While filing revised return, there is going to be a refund in the transferor company and tax to be paid additionally for the transferee company. We want to make use of the tax paid earlier by the Transferor company, (relating to the demerger undertaking) for the Transferee company so that no need to pay tax once again nor refund is claimed. What is the procedure to…


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  Refund
Can I claim deductions and exemptions in return filed in response to notices u/s 148 of the Act even though I have not filed my original return u/s 139.


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  REFUND OF ITC ON ACCOUNT OF INVERTED DUTY STRUCTURE
IN CASE OF MINING INDUSTRIES (QUARRY BUSINESS), GST IS PAID ON RCM BASIS ON ROYALTY PAID TO GOVERNMENT FOR EXTRACTING MINERALS AT 18% AND AFTER PAYMENT ITC IS ALSO AVAILED IN GST RETURN. WHEREAS ALL SALES IS AT 5% LEADING TO ACCUMULATION OF ITC. Q1 - HOW TO CLAIM REFUND OF SUCH ACCUMULATED ITC MAINLY DUE TO RCM PAYMENT OF ROYALTY Q2 - WILL SUCH ITC AVAILED ON ROYALTY CLASSIFIED AS ITC ON INPUT SERVICE Q3 - THE SUPREME COURT HAS RECENTLY DISMISSED THE GUJARAT HC JUDGEMENT IN CASE OF VKC FOOTSTEPS INDIA -  WHAT IS THE POSITION NOW. Q4…


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