Tax credit for TDS on Interest received
This query is : Resolved
22 July 2011
Scenario:
Bank has provided the TDS certicate with X amount and on NSDL website I have not received the credit of that TDS till the last date of filing of return. In this case I have claimed TDS only to the extent that is available on NSDL website. The balance TDS amount is updated on NSDL website only after the due date of filing if returns.
Question:
1) Can I claim the balance unclaimed amount of previous assessment year in current assessment year?
Bank has provided the TDS certicate with X amount and on NSDL website I have not received the credit of that TDS till the last date of filing of return. In this case I have claimed TDS only to the extent that is available on NSDL website. The balance TDS amount is updated on NSDL website only after the due date of filing if returns.
Question:
1) Can I claim the balance unclaimed amount of previous assessment year in current assessment year?
22 July 2011
TDS RELATING TO A PARTICULAR ASSESSMENT YEAR CAN BE CLAIMED IN THAT YEAR ONLY. YOU CAN FILE A RECTIFICATION APPLICATION U/S 154 AND CLAIM THE BALANCE.
23 July 2011
If the due date of filing revised return is not over it is better to file revised return.
25 July 2011
You claim the TDS for the year in which it is deducted and claim accordingly whether it is uploaded or not. The banks generally upload after 2 - 3 months as in April, May they are busy in the audit etc. If you do not claim you cannot claim in future years. If the bank uploads after 6 months and by this time your assessment is completed then you can claim refund through rectification u/s 154
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