TDS benefit

This query is : Resolved

Rama Mahawar (Querist)
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16 September 2009 Hi,

I have received a TDS certiofcate worth Rs 90000/- fo the FY 07-08 in Jan'09. I didn't take the benifit in the FY 2007-2008. can i take the tax benefit in the current year??

Please reply. it's urgent for me.

Thanks and Warm regards,

Rama

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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18 September 2009 section 155(14) states as under:

14) Where in the assessment for any previous year or in any intimation or deemed intimation under sub-section (1) of section 143 for any previous year, 69[credit for tax deducted or collected in accordance with the provisions of section 199 or, as the case may be, section 206C] has not been given on the ground that the certificate furnished under section 203 70[or section 206C] was not filed with the return and subsequently such certificate is produced before the Assessing Officer within two years from the end of the assessment year in which such income is assessable, the Assessing Officer shall amend the order of assessment or any intimation or deemed intimation under sub-section (1) of section 143, as the case may be, and the provisions of section 154 shall, so far as may be, apply thereto :

Provided that nothing contained in this sub-section shall apply unless the income from which the tax has been deducted 70[or income on which the tax has been collected] has been disclosed in the return of income filed by the assessee for the relevant assessment year.

Rama Mahawar

Rama Mahawar (Querist)
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18 September 2009 Hi,

Thanks for your reply.

it would be much helpful if you can translate everything in a very simple manner. Things are not upto the mark clear to me.

Thanks,

Rama

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