Taking Credit for TDS when Assessee follows Cash basis a/c

A CHENCHUMOHAN (CHARTERED ACCOUNTANT) (48 Points)

23 July 2011  

My client is a Professional and follows cash basis accounting all the years.

For professional services rendered he gets payment minus TDS.

In the F/y 2010-11 he received such payments and accounted aaccordingly and took credit for TDS deducted by payers.

But, now he finds that the payers have accounted it as on 31-03-2010 and remitted TDS for that year. In 23AS also it is appearing for F/y 2009-10 (Asst yr: 2010-11). The client did not claim / nor taken credit of these TDS for that year, as the income received (Actual cash receipt) during F/y 2010-11 and accounted it in the Current year.

Query is:

CAN HE TAKE TDS CREDIT FOR THE CURRENT ASST YEAR: 2011-12 by giving the relevant details in the ITR. BUT 26AS statement does not show it for the current year. What should be done in such case. PL ADVICE.

 

chenchumohan. a. hyderabad