Can I offset my current year tax payments with the previous years tax refunds, that I haven’t received from IT?



I am yet to receive tax refunds from my previous years of IT Filings, and I’ve run out of patience waiting for it, so can I offset my current year’s Tax payments with the previous years refunds? Is that allowed in India, anybody having any idea about the same please let me know what’s the process.

Can I offset my current year tax payments with the previous years tax refunds, that I haven’t received from IT?
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3 Replies to “Can I offset my current year tax payments with the previous years tax refunds, that I haven’t received from IT?”

  1. you are not allowed as per income tax act 1961 toi offset the refund of previous year with current year tax dues. after the assessment of your Income tax return you will get your refund cheque but you need to pay the current tax dues in time to avoid interest penalty and prosecution.



  2. In India no such type of Adjustment is permitted by the Income Tax Act, 1961. So you have to paid your applicable tax for current financial year and wait for previous refund.





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