Re: Part F of Form No.1

The following field appears in Form 1 in part F. (This is visible in print out taken in PDF version of Form No.1 already filed. But this field is not visible in online Form l

Part F
v) The following refunds have been determined but are
unpaid- these may be considered for adjustment against the
Net tax payable in Part F
S. No. Assessment Year Order Reference number / DIN if
any
Amount of Refund determined

Query 1. How to fill information under this F (v) field
2. Whether refunds due for different assessment years can be adjusted against tax payable under VSVS

In case of any technical difficulty it is advisable to approach your designated authority under the Act.

As per VSVA, in a case where the dispute in relation to an assessment year relates to reduction of Minimum Alternate Tax (MAT) credit or reduction of loss or depreciation, the appellant shall have an option either to (i) include the amount of tax related to such MAT credit or loss or depreciation in the amount of disputed tax and carry forward the MAT credit or loss or depreciation or (ii) to carry forward the reduced tax credit or loss or depreciation. CBDT will prescribe the manner of calculation in such cases.

 

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