Tds credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 April 2013 Dear Sir,

An assess had filed return for the financial year 2010-11 by showing a rental income of Rs.11,00,000/- and TDS of Rs.1,10,000/-. But in 26AS the tds credit is reflected in the Financial Year 2011-12. Now a notice received from income tax department to pay tax of Rs.1,10,000/- for the f.y.2010-11.
Is it possible to claim the TDS amount of Rs.1,10,000/- to F.Y.2011-12 & also pay the Demand amount by Challan?

CA Prashant Shrivastava

CA Prashant Shrivastava (Expert)
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17 April 2013 The income & TDS on said income should be offer for tax in same period. It seems that your deductor has not filed TDS return properly due to which your credit does not reflect in 26AS.

Further it seems that the deductor surely had provided you TDS certificate for the year 2010-11 and not for 2011-12.

AS such it will be prudent to approach your deductor and request him to file TDS correction return so that the credit can be reflected in your 26AS.