Accrual vs cash basis

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2014
A offers income on cash/receipt basis, however bank deducted TDS on interest paid on Accrual basis. Should A offer interest income on accrual basis and claim TDS , or continue to offer on cash basis , then how much TDS can be claimed?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 July 2014 you can continue to offer interest on the cash basis. the Income-tax return forms do provide option for carry forward of tds credit to future years.