Refund on an already filed Return

[Bryan Bass]

I had taken a voluntary separation from my Organization in 2014 as it was shutting down. I got a golden handshake sum of around 5lacs. I paid Income Tax on the complete amount. However, now I am being told that I could have gotten a waiver on the IT under 'Golden Handshake Policy'. Can I still avail a refund on that amount?

[DR.MARIAPPAN GOVINDARAJAN]

You may try. You have to explain the delay in the claim. If you succeed please share the same in this Forum.

[Yash Jain]

Dear Sir,

Yes, as per Section 10(10C) you will get benefit exemption of ₹ 5 Lakhs. (Maximum upper Limit)

Now, our question is that we have filed returns/paid taxes on it. Following table is your case and as under,

Particulars	Remarks
FY of Returns of your Income	2014-15
AY of Return of Your Income	2015-16
Date of Filing of Original Return	31st July, 2015
Due Date for filing Revised Return	31st March, 2016
Remarks	Due date is lapsed, hence revised Return can no longer be filed
Six Years from End of AY – For Condonation cases (Circular No.:9/2015)	31st March, 2022

But CBDT has come up with circular No.:9/2015 - dated 9^th June, 2015 , were in they have informed officers (Slab Wise) to grant waiver (Condonation) in case for delay in filing of the Return (In your case – revised Return) for Refunds/ Carry forward of Losses for maximum period of Six years from the end of the Assessment Year (in your case AY is 2015-16 and six years duration is 2021-22).

Now as the amount of refund is Less than ₹ 10 Lakhs you may please make an application seeking condonation for filing the revised return to Principle CIT/CIT of your jurisdiction (Search Jurisdiction by your PAN No.:). Now this circular Also gives power to officer to either accept or reject the case, but he will give the reason in writing. Before filing the refund do check and keep all the documents i.e Intimation U/s 143(1), any assessment order in addition to 143(1) intimation, VRS Letter from your company, proof of details of other income (if disclosed) and allied supporting which you have filed in your ITR. These may be documented by officer and it should not happen that he comes across any thing which is not in your favour, hence check and double check before filing the refund application.

In case if the officer concerned does not know this process, approach Chief Public Information Officer (referred as “CPIO”) and file and Right to Information (RTI) to know the process of refund and he will give you answer within 30 working days..which more or less will be in terms of aforesaid circular.

Looking forward for your return.

Rgds,

Yash Jain

8805235577

[DR.MARIAPPAN GOVINDARAJAN]

Thanks Shri Yash for your detailed reply.

AI Summary

Golden handshake exemption may allow tax refund; seek condonation under tax authority circular for delayed revised return. Where Section 10(10C) exemption for golden handshake applies, a taxpayer who already paid tax may seek a refund by applying for condonation of delay under CBDT Circular No.9/2015, which permits officers to condone late filing of revised returns for refunds up to six years from the end of the assessment year. The taxpayer should apply to the Principal CIT/CIT with supporting documents including the 143(1) intimation or assessment order, the VRS letter, and proofs of other income; the officer will decide in writing, and an RTI to the CPIO can be used if the officer is unaware of the circular.