TDS
This query is : Resolved
07 July 2020
Hello All,
I have a question on TDS, appreciate your clarification. We have deducted TDS from Supplier's invoices focr previous year's ie. for FY 2018-19 TDS paid in FY 2019-20. Assuming that the Supplier has already filed his IT Returns for FY 2018-19 and paid the required Tax, can I submit a claim for refund of the TDS that was paid? Please explain the process to be followed.
Regards
I have a question on TDS, appreciate your clarification. We have deducted TDS from Supplier's invoices focr previous year's ie. for FY 2018-19 TDS paid in FY 2019-20. Assuming that the Supplier has already filed his IT Returns for FY 2018-19 and paid the required Tax, can I submit a claim for refund of the TDS that was paid? Please explain the process to be followed.
Regards
07 July 2020
The deductor cannot raise such a claim since there is no provision in the act/rules.
07 July 2020
Thank you for the reply, Sir. So I will have to wait for the deductee to claim refund and then pay me back the TDS amount that I have paid.
Also this TDS amount cannot be used and applied any other Supplier Invoice, correct.
Also this TDS amount cannot be used and applied any other Supplier Invoice, correct.
07 July 2020
Yes Sir, your understanding is absolutely correct.
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