Taxpayers who missed the Income Tax Return (ITR) filing deadline can still claim their Tax Deducted at Source (TDS) refund by filing a belated return or applying for condonation of delay under certain conditions.
India — direction and magnitude withheld
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Key takeaway
Taxpayers who missed the ITR deadline can still claim TDS refunds via belated returns or condonation of delay.
- Step 1 · The triggerThe Income Tax Department allows belated returns and condonation of delay for missed ITRs, enabling TDS refund claims after the deadline.
- Step 2 · Knock-onSMEs and individuals who missed the deadline face procedural complexity, increasing reliance on tax advisory firms for compliance and refund recovery.
- Step 3 · Reaches youTax advisory firms see a modest increase in compliance-related engagements, while SMEs incur additional advisory costs to recover refunds, impacting working capital.
The trigger is reported by the source below. The steps that follow are Branch²’s traced reasoning — how the shock could reach a business like yours, not a prediction.
Source: Economic Times Top Stories
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