TDS
This query is : Resolved
25 March 2009
Can TDS for FY 2008-2009, be claimed in FY 2009-10, if the actual payment recd after 31-3-2009,when assessee is maintaining its books on cash basis and the procedure for claiming the same.
25 March 2009
In case of cash basis accounting, TDS amount is treated as income even if the actual payment is not recd. For example Bill amt was 100000/- and TDS deducted 10000/- in FY 2008-09. If Rs.90000/- recieved in 2009-10, the Income to be considered for FY 08-09 shall be Rs.10000/- for which you have recieved the TDS certificate. TDS has to be claimed in the year in which it was deducted. No other option available.
25 March 2009
Comments on above answer is required from other experts also specially respected CA.Sampat Jain
25 March 2009
Sorry but dont agree with Mr.Maheshwari. You can claim TDS in F.Y.09-10 when you actually receive the income. You can claim the TDS only in the year in which you show the corresponding income.
25 March 2009
Yes.
You can and should claim the TDS in which u book the corresponding income.
There is also a clarification from the dept. in this regard.
You can and should claim the TDS in which u book the corresponding income.
There is also a clarification from the dept. in this regard.
25 March 2009
Dear friends, if you see the section 199 after amendment by finance Act 2008, it is very much clear that now TDS has to be claimed in which it is deducted. For better clarification also see the footnotes of the section in the Act. Secondly, the practice I mentioned is very much clear, and it is followed by CAs in their own book writing. It has been already discussed in this section somewhere also, but right now I am not getting that discussion. Whenever I shall get, I will let you all know about that.
25 March 2009
Dear Nitin, can you tell me please how can I get this clarification of department you mentioned. Some circular number is there???
26 March 2009
Sir, there was a clarificatory note taken by UTCA (Ulhasnagar Tax Consultants Association) from the department.
26 March 2009
Dear Nitin, Can you pls send me the text of that clarificatory note. I have discussed this issue with lots of my seniors and they are of the same opinion what I wrote. If you can provide some supporting material then it would be more clarificatory for me.
26 March 2009
To all who replied my query, thanks a lot pls provide the clarificatory note and how one should claim it in ITR 4, because if you go through TDS schedule 2 the last column no 7 says AMOUNT OUT OF (6) CLAIMED FOR THIS YEAR. pls put some light on this particular coloumn, I personally think, you can claim TDS in the following year.
28 March 2009
Yes Sir that column has been specifically inserted for the above purpose only.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
