We have received an intimation u/s 143(1) from bangalore for financial year 2007-08 requiring tax payable as it has not taken tds into account.we have drefted a reply letter for that already.
But now i want to ask this problem is being faced by many in the upcoming years also so to avoid the same what can be course of action for f/y 2008-09,2009-10 so that we dont have to face such kind of intimation again.can we do anything in advance like transferring file to delhi etc. or anything else.
02 August 2010
NO, YOU HAVE TO TAKE ACTION ONLY AFTER WHEN YOU HAVE RECEIVED SOME INTIMATION REGARDING ANYTHING. HOW YOU CAN TAKE ACTION AGAISNT WHICH YOU HAVE NO KNOWLEDGE I.E IT MAY BE THAT FY TDS IS TAKEN IN ACCOUNT BY THEM. NOW YOU CAN CHECK TDS CREDIT BY HELP OF 26AS IN WHICH YOU CAN CHECK HOW MUCH CREDIT WILL GIVEN TO YOUR PAN NO. IF THERE IS ANY PROBLEM LIKE DATA IS NOT MATCH THEN YOU CAN ACTION IMMEDIATELY SO THAT AT THE TIME OF MATCHING TDS BY IT DEPARTMENT ALL TDS CREDIT SHOULD YOU RECD.
02 August 2010
The default may be by the person deducting tax. He might not have filed the TDS returns in time. Hence credit has not been granted by the department in your account.
If you are filing returns physically; then also problem may be there either being committed by your staff or by the income-tax department's staff.
Whenever such queries are raised; attach original TDS Certificates to claim the tax paid on your behalf.
Now there are possibilities where you can register yourself at Income-Tax sites to see your tax credits.
Thanks very much for the prompt reply to both of you.
there is no such default.This problem is due to bangalore itprocessing sustem as many people have reported the same that they are not getting tds credit.Further we are a ca firm and all the tds deducted are our clients and we have filed their tds returns at time.
We are also registered under 26As and its showing us the credit but still we are receiving the intimation.
Please tell me you also might be aware that there is some problem like this.Has it been corrected for thye upcoming years by bangalore or still there is some flaw?
02 August 2010
Regarding past matter, you have already taken up the matter. However, for future its better for you to register yourself for online access of TDS information (26AS), as may be deducted by your clients from time to time. In case there are disccrepancies, as noted during routine interval online checking from your end, you have to request your client to rectify the situation by submission of revised return so that your TDS credits may be appropriately refelected. Otherwise mismatch situations may reoccur and you have to put in unnecesary additional efforts for their redressal.
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