Advance tax(TDS receivable amt) set off/refund by cash

[yujin kim]

Dear sir

We have TDS receivable amount 14lac from 2007-08 FY till now.

We don't have any profit for last 5 years, so we couldn't  set off 14lac against our income tax payable amount because we don't have payable income tax.

We guess we cannot get profit in future also. so we want to receive 14lac by cash or towards our account .

For this, what can I do?

If we send application form(form 30H) to income tax, then can government send to us that money?

Or do you have another good suggestion about this? (set off or another application etc)

AI Summary

Company Seeks TDS Refund from 2007-08; Must File Form 30 Within Two Years per Sections 237-239, Rule 41. A company has a TDS receivable amounting to 14 lakh from the 2007-08 financial year but has no taxable income to set it off against due to lack of profits over the past five years. Seeking a refund, they inquire if submitting Form 30H to the income tax department would facilitate receiving the amount in cash or account transfer. Responses suggest filing a refund claim using Form 30 within two years of the financial year end, consulting sections 237-239 and rule 41 of the Income Tax, and approaching the Assessing Officer or jurisdictional High Court if the refund is denied.