01 July 2012
I am an Actor in TV Serial. I have been following CASH method of accounting in all previous years. I received a crossed a/c payee cheque d/d 26 april 2012 for the work done in March 2012.It has been credited in my bank a/c on 30 april 2012.But this is shown in form 16 A for a/y 2012-13 as amount paid/credited on 31March 2012."Date on which tax(TDS) deposited" is sown as 26 May 2012. Kindly clarify (1) Should I have to necessarily show this as my income in my IT Return for a/y 2012-13 (even though I have physically received this income in a/y 2013-14 ? (2) can I show it in a/y 2013-14 and claim TDS even though form 16A shows it in a/y 2012-13? This transaction is also reflected in form 26 AS in a/y 2012-13 DATTATREYA H G
24 August 2012
From AY2012-13 the ITR is modified to take care of TDS of earlier year and facilitate claiming of tax credit in the year in which income is offered. You can claim it in AY2013-14.
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