year of TDS - credit

This query is : Resolved

SHEEJITH (Querist)
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28 July 2008 A firm folloiwng cash system of accounting received professional services from a company on 1st April 08.

The company issued the TDS certificate showing period of payment as FY 2007-08 Asst. Year 2008-09.

Query :

In which year the firm can claim credit of TDS ?

Whether the firm can credit the TDS for the asst year 2009-10

CA Anand Sarda

CA Anand Sarda (Expert)
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28 July 2008 The year in which the assessee shows the income for which tds is deducted, he can claim tds in that year.
In the present case, since assessee is following cash system of accounting., he can claim TDS in F.Y 2008-09.
It doesnot affect for which year the TDS certificate is issued.