CBDT notifies Form 29D to get refund of tax deducted under section 195

Notification no. 98/2022, dated 17-08-2022

The Finance Act 2022 inserted a new section 239A in the Income-tax Act. It provides that a taxpayer may file an application before the Assessing Officer to get the refund of tax deducted under section 195 on any income (other than interest) if no tax deduction was required.

As per section 239A, such application is required to be filed within 30 days from the date of payment of such tax in the prescribed form and manner.
The Central Board of Direct Taxes (CBDT) has inserted a new Rule 40G in the Income-tax Rules, 1962 prescribing the manner to get the refund of tax in accordance with section 239A.

Rule 40G provides that a claim for refund under section 239A shall be made in Form No. 29D. The application in Form 29D shall be accompanied by copy of an agreement or other arrangement referred to in section 239A.

Click Here To Read The Full Notification