A Ltd. Company is executing Construction work in a central govt organization. They had received Mobilization advance in initial stage for executing the work and deducting the advance in installment with interest in every running account bill as per works contract. Whatever TDS on the interest which was charged by the Govt. organization against recovery of advance had paid by the Co. and the same was reimbursed from the Govt. Organization by submitting Form16A during the assessment year. Now the problem is that in the year 07-08 TDS had been deposited by our client but the TDS certificate they could not able to submit the same in Finance in time and later when it is submitted in this year (10-11) they have refused to credit the return as their assessment year was already expired.
Now my question is whether this TDS which my client has deposited but not gets the refund from the organization can alternative way to get the credit of the return. Please let us inform.
CAclubindia
