Demand adjustment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 April 2015 I have a Pvt. Ltd. Company, we had filed our Balance sheet for AY 12-13 delayed on 31st mar 2013. Our return had been gone through CAS. After numerous hearing they disallow our many expenses. Now they had raised a demand .

In case any demand raised by income tax for a particular AY, can it be adjusted with the next AY TDS deposits.

CA. SHIVA SHANKARA R. SHETTY

CA. SHIVA SHANKARA R. SHETTY (Expert)
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07 April 2015 Any demand in the particular AY cannot be adjusted against next year tds amount. However, it can be adjusted against refund amount of the next assessment years.

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Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2015 hi sir,

also i want to know that in case any particular AY return had been scrutinized, it means that other AY return will also go through CAS.

also will a particular AY return will delay any later year AY refund process.

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CA. SHIVA SHANKARA R. SHETTY

CA. SHIVA SHANKARA R. SHETTY (Expert)
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08 April 2015 for your first point, there is a possibility.
for second point, it will not happens.