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of <h1>Tax Refund Procedure for TDS u/s 195: Key Steps and Conditions Explained.</h1> The circular outlines the procedure for refunding tax deducted at source under section 195 of the Income Tax Act, 1961, to the person who deducted the tax. It addresses scenarios where a refund is warranted, such as contract cancellations or incorrect tax deductions. The refund process requires approval from the Chief Commissioner or Director General of Income Tax. No interest is payable on these refunds, and adjustments may be made against existing tax liabilities. Refund claims must be submitted within two years from the end of the financial year in which the tax was deducted. This circular supersedes Circular No. 790/2000.
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