Birju Kumar (Chartered Accountant) (26 Points)
10 July 2011Dear Sir,
We have filed Income Tax Return for the F.Y. 2009-10. i..e. A.Y. 2010-11 in the month of DeC 2010 belated. We didn't take the credit of TDS deducted by others since it was not reflecting in 26AS and file the return. We got order without taking the credit of TDS. Kindly advise what should i do?
1. File for rectification or
2. I can take credit this year for F.Y. 2010-11 i.e. A.Y. 2011-12 return.
Waiting for your valueable reply.
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 10 July 2011
Any responses, friends.
Bhargav
(Practising CA)
(567 Points)
Replied 11 July 2011
| Originally posted by : Birju Kumar | ||
 |
Dear Sir, We have filed Income Tax Return for the F.Y. 2009-10. i..e. A.Y. 2010-11 in the month of DeC 2010 belated. We didn't take the credit of TDS deducted by others since it was not reflecting in 26AS and file the return. We got order without taking the credit of TDS. Kindly advise what should i do? 1. File for rectification or 2. I can take credit this year for F.Y. 2010-11 i.e. A.Y. 2011-12 return. Waiting for your valueable reply. |
 |
REVISE THE RETURN WITH ADDITIONAL CREDIT...
YOU WILL GET CREDIT OF IT AFTER SOMETIME
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 11 July 2011
belated returns can not be revised.
Bhargav
(Practising CA)
(567 Points)
Replied 11 July 2011
Bhakti
(CA)
(267 Points)
Replied 11 July 2011
Since you have not taken the credit how can the same be considered in order??
and yes belated return can not be revised. You can take the credit next year when the same gets reflected in 26AS. (ideally u should take the credit for TDS corresponding to the year in which the income on which the TDS deducted is shown and taxed)
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 11 July 2011
TDS credit is good in the year mentioned in TDS certificate or 26AS, it can not be considered in other assessment years.
Bhakti
(CA)
(267 Points)
Replied 11 July 2011
true but he said he could not take the credit as it was not there in 26AS. so whenever it gets reflected in 26AS he can take the credit.
Gaurav Kapoor
(student Final)
(205 Points)
Replied 11 July 2011
cmon go for rectification u/s 154 to A.O. its a mistake apparent from record n ur acknowledgement is deemed intimation..
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 11 July 2011
s/154 rectification can be filed within 30 days only,
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 11 July 2011
Better you can file rectification return or file revision under section 263 of the Act
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 11 July 2011
wait for some time or infinite to get a reply atleast from the query poster, who disappeared and never bothered to complete the query, and CCI members made hue and cry over the incomplete query.
when he made the return late upto dec 2010, there was no diff to submit upto 31-03-2011, but he submitted in dec 10, without trying to get his 26AS corrected, and without having form 16A in han d even ( i guess)
later on he will submit that " as the TDS was not claimed, he excluded the specific turnover even on which TDS was deducted" in the ITR, do you have any solution?
be professional and your reply should be in professional tune, if the query is incomplete, you dont have to reply it, ask them to complete it, or clear your doubts through discussions on board,
even if form 26AS does not display the credit, we claim it, and it get rejected from ITO, then we file rectification, revision or appeal, but non considering of TDS in his own return..........................? means what........ close group relation between deductor and deductee whereas the deductor is revising returns of other dedcuctees for his pan so that he can take credit? and such things are happening after the finalization of 3cd and submission of return of deductor............
go negative for such queries, discourage them, we are here to make a healthy india where we dont have to promote corruption, neither we do promote evasion.
let the query poster continue the thread with proper inputs, judge the query, fix it on your professional skill, then only reply, no hurry to put improper replies,
try to make CCI a knowledgebank, not a playground for kids.
Bhakti
(CA)
(267 Points)
Replied 12 July 2011
Query:How can one go for rectification when there was a mistake in original return itself filed by the assessee? (not a mistake but non credit of TDS by assessee)
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 12 July 2011
| Originally posted by : Bhakti | ||
|
|
Query:How can one go for rectification when there was a mistake in original return itself filed by the assessee? (not a mistake but non credit of TDS by assessee) |
|
Reply : when the assessee did not claimed the TDS himself, means he is either not bonafide holder of such TDS or he is concealing / giving away such TDS, if tax is deducted from him, then why is he not claiming, how his cash flow statement would get reconciled? where he will allocate the tds amount in his cash management if not claimed?
is case of fault done by ignorance, the assessee has option to revise his return and claim fuil TDS,
The assessee has to remember that the dates published by incometax department for furnishing return and time limit for revision of returns are to be maintained.
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