16 April 2009
I have deducted TDS on a contract and have deposited the same. But after 6 months I came to know that the contract has not been materialized and the party has refunded me the money which is actually paid him.
But I have deposited the tax in his name; he is not willing to refund me the same as the income does not accrue to him.
How can I claim this refund with the Income Tax Department?
17 April 2009
The other party is not ready to take the TDS certificate as the income has not accrued to him.
This relates to Arp,08 , we can revise the TDS return but will not be able to adjust in that quarter as the amount is already paid.
Can we adjust with this quarter, if yes than under which notification. Someone told me that we can adjust the same with our Income Tax liabilty but without any realibilty
CAclubindia
