TDS certificate

This query is : Resolved

karan (Querist)
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31 May 2008 one of my debtor has deducted the TDS on my bill and i have niether collected the TDS certificate nor taken any credit for the same in 2006-07 can i take credit of the same agst tax liab for the 2007-08

Kindly advice

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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31 May 2008 no,you will not take benefit of tds for the year 06-07 you will filed revised return apply for refund

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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31 May 2008 SEE SECTION 155(14)

[(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, 28[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 [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 [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.

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