TDS CREDIT FOR INCOME RECEIVED NOW

This query is : Open

Gokulesh (Querist)
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25 December 2009 Can you please give remedy on following case:-

Assessee is maintaining books of account on cash basis.

He has received actual interest and booked income on Govt Bond on maturity in FY 2007-08 (Actual receipt in Apr 07)

However On TDS certificate received, period mentioned is for FY 2006-07 being bond send for redeemption in that FY.

But actual amount received in next FY i.e 2007-08.

Income Tax officer is now disallowing this TDS in assesment of return of FY 2007-08 on the ground that FY mentioned on TDS is 2006-07

Gokulesh

Gokulesh (Querist)
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25 December 2009 ,