Missed ITR deadline and want to claim a refund? What happens if you have an outstanding tax demand
New Delhi, Sept. 26 -- Missing the income tax return (ITR) filing deadline does not necessarily mean you lose the opportunity to claim a tax refund. If excess tax was deducted through TDS or paid through advance tax or self-assessment tax, taxpayers can still claim the refund by filing a return later.
However, there may also be cases where you do not receive the refund at all because you have an outstanding tax demand from a previous year.
For most salaried individuals, the ITR due date was July 31, while professionals and businesses (non-audit cases) had time until August 31.
Those who could not complete their income tax filing within the original due dates set by the income tax department, have the option to file a belated return by ...
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