TDS refund mechanism for deductors clarifies eligibility, prescribed application procedure, and time bound AO orders. Clause 434 creates a statutory TDS refund mechanism allowing a deductor who, under a written agreement, bore withholding tax and later claims no deduction ... Summary
TDS refund mechanism for deductors clarifies eligibility, prescribed application procedure, and time bound AO orders.
Clause 434 creates a statutory TDS refund mechanism allowing a deductor who, under a written agreement, bore withholding tax and later claims no deduction was legally required to apply for refund in the prescribed form; the Assessing Officer must inquire as necessary, provide the applicant an opportunity to be heard, and pass a written order allowing or rejecting the claim within the specified time frame.
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TaxTMI 
TaxTMI 
