CBDT Notifies New Form 29D For Refund Of Tax Deducted

The Board has notified the Income-tax (26th Amendment) Rules, 2022. The amendment added a new Rule 40G to the Income-tax Rules of 1962 relating to Refund Claim under Section 239A.

In the Income-tax Act, a new section 239A was added by the Finance Act of 2022. Section 239A states that if no tax deduction was required, a taxpayer may apply to the Assessing Officer for a refund of tax deducted under Section 195 on any income (except interest).

As per Rule 40G, a claim for refund under section 239A shall be made on Form No. 29D. The claim shall be accompanied by a copy of the agreement or other arrangement referred to in section 239A. The claim may be presented by the claimant himself or through a duly authorised agent.

Form No. 29D deals with the application by a person under section 239A of the Income-tax Act, 1961, for a refund of tax deducted.

Notification No. 98/2022

Dated: 17.08.2022

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