CA Kumar Mukesh (CA CMA FINAL and Advance Excel Trainer) (6881 Points)
11 August 2011Dear all
let me ask one query
Our client is job woker & he received job work charges accondingly
During FY 2010-11 he rasied bill around Rs 96 lac but in Form 26AS it shows 98.5 lacs & also ecess TDS Receiveble
My question is he can avail Excess Tds credit?
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 11 August 2011
If he received TDS credit (Excess amount) wrongly in his account then he has to claim only actcual TDS amount pertaining to him. Lets see others view also.
CA Kumar Mukesh
(CA CMA FINAL and Advance Excel Trainer)
(6881 Points)
Replied 12 August 2011
the main problem is that said client done job work for single manufacture
& one biil entered in twice
Chellam
(ICWA Inter)
(72 Points)
Replied 27 August 2011
First thing The assessee cant claim the tax credit based on the 26AS statement.He can able to claim the tax credit basedon the orginal certificate produced during the assessment.No need to bother about the excess credit why because the vendor may file a revised return in future and that will get reversed at that time.I.T Dept is in a processof streamling the tax receivables.Still FORM16A is exisit they will give tax cr. based on the certificate only.
Monica
(student - CA Final)
(83 Points)
Replied 28 August 2011
| Originally posted by : Kumar Mukesh | ||
 |
the main problem is that said client done job work for single manufacture & one biil entered in twice |
 |
In this case ask the manufacture to correct the tds return filed. When you efile your return the software generates tds only according to what is credited in form 26AS and sends you intimation u/s 143 (1).
Whereas your assessing officer will consider tds only according to the Form 16A certificates.
CAclubindia
