CBDT Notified New Form 29D for Refund of Tax Deducted

CBDT Notified New Form 29D for Refund of Tax Deducted The Central Board of Direct Taxes (CBDT) has notified the new Form 29D for a refund of tax deducted. The Income-tax (26th Amendment) Rules, 2022 have been announced by the Board. The Income-tax Rules of 1962 were amended to include a new Rule 40G pertaining to Refund Claims under Section 239A. By way of the Finance Act of 2022, a new section 239A was inserted to the Income-tax Act. According to Section 239A, a taxpayer may apply to the Assessing Officer for a refund of tax deducted under Section 195 on any income if no tax deduction was necessary (except interest). A claim for a refund under section 239A must be lodged on Form No. 29D in accordance with Rule 40G. A copy of the agreement or other arrangement mentioned in section 239A must be included with the claim. A fully authorised agent may present the claim on behalf of the claimant or the claimant themselves. A person's request for a refund of tax withheld under section 239A of the Income-tax Act of 1961 is addressed in Form No. 29D.