TDS CREDIT FOR INCOME RECEIVED NOW
This query is : Open
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
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
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