Income Tax Refunds When tax refunds come up, most people ask, “Can I claim my refund from the tax office?” The general opinion is that taxes collected by tax offices, i.e., taxes that go into the state treasury, cannot be refunded. But the reality is otherwise…
What is Income Tax Refund?
Under the Income Tax Act, after deducting income tax for the year, if there is a difference that cannot be deducted from the income included in the income reported on your return, you can claim a refund of the difference.
How to refund income tax?
Interim tax deductions or cash refunds not indicated in the relevant part of the annual return must be claimed electronically by the end of the year using the relevant model application attached to the General Statement of the Tax Procedures Act. need to do it. No. 429.
Why the final tax return?
individuals file their income tax return in March, the agency in April. Some income taxpayers and corporate taxpayers, especially when tax deducted on securities transactions results in an annual business loss or when the calculated income/corporate tax is more than the tax paid by withholding may request a refund.
What is the 2022 tax refund?
If the refund claim made in cash exceeds 68,000 TL in 2022, the amount exceeding 68,000 TL will be refunded according to the tax audit report prepared as a result of the audit conducted by the tax audited person. Authority under the Tax Procedures Act.