tds difference
This query is : Resolved
14 August 2008
for the f.y. 2006-2007 we had deducted tds on sub contract work to party Mr.A, however the certificate was received late by him & he had already filed income tax return. Can he claim tds in f.y 2007-2008? both of us follow accural system.
16 August 2008
If, Mr.A has followed accrual system ,then it is clear that he has recognised his income in year 06-07 itself and paid taxes on that income. Now, in my opinion, he should claim TDS in 07-08, and later on in assessment proceedings, if ask, he can present his explanations to prove this effect.
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