ITR5 filed for firm without claiming TDS credits, now how to claim refund?

File rectification

1. File Rectification Request for Return Data Correction: The partnership firm can file a Rectification Request to correct the oversight of not claiming the TDS credits as a refund in the originally filed ITR for AY 2022-23. This rectification can be done by logging into the income tax e-filing portal and selecting the "Rectification Request" option. Provide the necessary details and explanations for the correction needed, specifically mentioning the unclaimed TDS credits. The tax authorities will review the rectification request and make the necessary adjustments to the return data to allow for the refund of the unclaimed TDS amount.

2. File Revised Return: Alternatively, the partnership firm can choose to file a revised return for AY 2022-23. This involves filing a completely new return, correcting all the errors and including the omitted TDS credits. The revised return should accurately reflect the partnership firm's income, deductions, and TDS details. Once the revised return is filed, the original return will be replaced, and the tax authorities will process the revised return for refund calculation and issuance.

Both options provide a way to rectify the situation and claim the unclaimed TDS credits as a refund. The firm can choose the option that suits its situation and follow the necessary steps to ensure compliance with tax regulations. It's recommended to consult a tax professional or financial advisor to ensure the correct procedure is followed.

Hope you find the information helpful. You are free to contact me for further discussion.If you could spare two minutes of your time to write a review, It would be really grateful and very happy to read it.

Thank you.

Shubham Goyal

u can revise the return

Feel free to reach out for a phone consultation, and I'll assist you in filing Rectification Request for Return Data Correction or revised ITR.

Best regards,

CA Shubham Goyal

Hi,

You can file the Revised Return claiming the correct TDS in the ITR. 

File online grievance. Revised return is not possible due to lapse of time. Application for Condonation of delay u/s 119(2)(b) may be accepted for filing revised return

For detailed discussion you may opt for phone consultation

hey

Proposed situation can be resolved with 2 solutions:

Solution -1:

First of all Revised Return can not be filled due to lapse of time

because Incometax Return can be revised up to the 31st December of relevant assessment years i.e. upto [deleted]

So you can File online grievance by login incometax e-filling portal

Application for Condonation of delay u/s 119(2)(b) may be accepted for filing revised return

Solution 2:

You can file rectification request to correct return data by login incometax e-filling  portal

for more assistance you can reach out for Phone consultation,i help you to make refund for A

If you bless me with few minutes of your valuable time to write a review, It would be motivational for me.

Thanks

Regards,

CA Vaibhav Garg

Portal won't allow to claim credit online.

You only have two option:

1. To apply for rectification before AO

2. To apply condonation before CIT. 

Please note that credit of TDS would only be available if corresponding income was already included in income tax return filed.

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