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How I claim Tds of fy 2018-2019, return file is submitted

Vinod Bhatia (Trader ) (29 Points)

02 December 2019

My supplier had filed TDS fy 2018-2019 on 17th November 2019. His firm is audited & filed TDS with interest. I had submitted My file in August 2019. Now how I claim this TDS amount.

Shall I claim this amount in next fy 2019-20, or should I revise my return. As it is processed by CPC. Refund also came. Amount of payment got in 2019-2020 in July by supplier

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9 Replies

CA Ankit R Momaya (Partner at Bhat Momaya & Associates) (2319 Points)
Replied 02 December 2019

You can very well revise your Income and claim the Additional Amount of TDS.

No need to worry that ITR has been Processed.

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Kapadia Pravin (17264 Points)
Replied 03 December 2019

Please check your 26AS statement to confirm such TDS is appearing there in AY 2019-2020 statement !!

Also what amount you had considered in your ITR as income. whether gross or net amount (after TDS) .

The income declared of this transaction should match with 26AS payment amount in so far TDS is concerned.

File revised return now also for AY 2019-2020.

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 03 December 2019

Yes... I agreed to Mr CA Ankit R Momaya.

@ Vinod Bhatia.,

You can just Your ITR as per Mr Ankit view. Also You can claim refund of such tds.

debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 03 December 2019

Revise you income and claim refund for TDS

Kapadia Pravin (17264 Points)
Replied 03 December 2019

@ Vinod Bhatia

You did not claim TDS in your ITR , that's true but as per books how you have shown this .

It's not as simple as it looks to claim TDS.

Each TDS claim has to have corresponding income in ITR.

When you claim TDS by filing revised return , you have to write under which head corresponding income is declared. This, I think, nobody can deny.

eg. In case your bill amount is 50000/- and TDS is say 10% then net received by you is 45000/-
So the question is how much you have booked income --- is it 50000/- or 45000/-

If you have booked income 50000/- then it's okay but then where you booked 5000/- TDS entry.

If you booked income 45000/- then it's under booking of income

I advised you to check this while filing revised return. If any lapse then you can correct alongwith TDS claim.
Revise income (if required) alongwith asking TDS claim in Revised Return.

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 03 December 2019

Yes... I agreed to Mr CA Ankit R Momaya.

@ Vinod Bhatia.,

You can just Your ITR as per Mr Ankit view. Also You can claim refund of such tds.

Kapadia Pravin (17264 Points)
Replied 03 December 2019

@ Ankit Momaya
Hi Dear
Sailing in the same boat

Our views on the impugned query are same but one more thing I mentioned that is of matching exercise of TDS with corresponding Income amount per 26AS vis-a-vis original ITR

Please peruse my earlier post and correct me if you hold any other view.

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 03 December 2019

@ Hi Mr Vinod Bhatia.,

You can just Revuse Your ITR with updated 26AS and it's TDS as per Mr Ankit view. Also You can claim refund of such tds...

2 Like

Kapadia Pravin (17264 Points)
Replied 04 December 2019

@ Vinod
aap shri darek na jawab juo. pahelethi darek rite check karine revise return file karsho.

ul mathi sul ma padva jevu thay tem na karta

Tamara salahkar ni ( amdavad) madad Levi .
JSK