11 December 2010
Return for the A.Y: 2008-09 has been filed & is now under scrutiny assessment. TDS credit was claimed based on the certificates on hand. We had no access to form 26AS at that point of time. Now since we have the luxury of Form 26AS - it is observed that a valid TDS credit of Rs. 3 lacs was not taken for want of TDS certificate. Can the said TDS credit be allowed by the Assessing Officer? Or is there any other that neeeds to be followed?
As per Sec 155 of the IT Act, in case TDS credit is not given by the A.O. on account of non-submission of TDS certificate, the same can be given within 2 years from the end of relevant A.Y. if the same are produced within the period of those 2 years.
Hence, in the given case, the same has to be allowed by the A.O.
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