Refund case
This query is : Resolved
29 July 2014
someone's total income is below taxable limit having only interest income from bank. The Bank has deducted tds while paying interest
My questions are 1) if ITR of a.y.13-14 is not filed can it be filed now and refund can be claimed? In ITR-2 of A.Y. 14-15 ,there is option under TDS sheet that b/f tds of previous year claimed in current year will that option can be used without filing a.y.13-14 return?
2) is there any time gap between which ITR of A.Y.13-14 & A.Y.14-15 is to be filed ?
My questions are 1) if ITR of a.y.13-14 is not filed can it be filed now and refund can be claimed? In ITR-2 of A.Y. 14-15 ,there is option under TDS sheet that b/f tds of previous year claimed in current year will that option can be used without filing a.y.13-14 return?
2) is there any time gap between which ITR of A.Y.13-14 & A.Y.14-15 is to be filed ?
30 July 2014
no gap is required. you can file both the returns even on the same day
regarding your first query: the carry forward and brought forward option can be used where TDS is deducted in one year but the corresponding income is offered to tax in future years on account of accounting policy difference. For eg: TDS is deducted on accrual basis (on provision) but the deductee offers income to tax on cash basis in the year in which income is actually received.
So kindly file ITR for AY 2014-15 and FY 2013-14 and claim TDS credit in respective years.
regarding your first query: the carry forward and brought forward option can be used where TDS is deducted in one year but the corresponding income is offered to tax in future years on account of accounting policy difference. For eg: TDS is deducted on accrual basis (on provision) but the deductee offers income to tax on cash basis in the year in which income is actually received.
So kindly file ITR for AY 2014-15 and FY 2013-14 and claim TDS credit in respective years.
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